New Issue: HSBC prices $991,000 six-year digital plus barrier notes linked to S&P 500

By Susanna Moon

Chicago, Nov. 26 – HSBC USA Inc. priced $991,000 of 0% digital plus barrier notes due Dec. 1, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of any index gain and the 40% minimum upside return.

Investors will receive par if the index falls by up to 30% and will be fully exposed to losses if the index falls below the 70% barrier level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital plus barrier notes
Underlying index:	S&P 500
Amount:	$991,000
Maturity:	Dec. 1, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus return, floor of 40%; par if index falls by up to 30%; full exposure to losses if index falls by 30% or more
Initial index level:	2,063.50
Knock-in level:	70% of initial level
Pricing date:	Nov. 21
Settlement date:	Dec. 1
Underwriter:	HSBC Securities (USA) Inc.
Fees:	3.25%
Cusip:	40433BTH1/US40433BTH14

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