New Issue: HSBC prices $464,000 digital dual directional barrier notes tied to Dow, Russell

By Sarah Lizee

Olympia, Wash., March 17 – HSBC USA Inc. priced $464,000 of 0% digital dual directional barrier securities due March 13, 2025 linked to the lesser performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus 1.3 times the return of the lesser performing index.

If either index falls by up to 30%, the payout will be par plus 20%.

If either index falls by more than 30%, the payout will be par plus the return of the lesser performing index with full exposure to the decline.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying indexes:	Dow Jones industrial average and Russell 2000
Amount:	$464,000
Maturity:	March 13, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 1.3 times the return of the lesser performing index; if either index falls by up to 30%, par plus 20%; if either index falls by more than 30%, par plus the return of the lesser performing index with full exposure to the decline
Initial levels:	25,018.16 for Dow, 1,350.898 for Russell
Barrier levels:	17,512.712 for Dow, 945.6286 for Russell, or 70% of initial levels
Pricing date:	March 10
Settlement date:	March 13
Underwriter:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435U6Y5

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