New Issue: HSBC prices $605,000 digital dual directional barrier notes on indexes

By Wendy Van Sickle

Columbus, Ohio, April 26 – HSBC USA Inc. priced $605,000 of 0% digital dual directional barrier securities due April 27, 2018 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above the 80% barrier level, the payout at maturity will be par plus the greater of the minimum upside return of 11% and any gain of the worse performing index.

Otherwise, the payout will be par plus the index return of the worse performing index with full exposure to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying index:	S&P 500 and Russell 2000
Amount:	$605,000
Maturity:	April 27, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above 80% barrier level, greater of par plus 11% or the gain of the worse performing index; otherwise, full exposure to decline of worse performing index
Initial index levels:	2,091.58 for S&P, 1,146.690 for Russell
Pricing date:	April 22
Settlement date:	April 27
Underwriters:	HSBC Securities (USA) Inc.
Fees:	1.5%
Cusip:	40433ULH7

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