New Issue: HSBC sells $1.45 million digital dual directional barrier notes on S&P

By Tali Rackner

Norfolk, Va., May 2 – HSBC USA Inc. priced $1.45 million of 0% digital dual directional barrier notes due April 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the 75% barrier level, the payout at maturity will be par plus the greater of the minimum upside return of 25% and any index gain.

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

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier notes
Underlying index:	S&P 500
Amount:	$1,452,000
Maturity:	April 30, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above the 75% barrier level, greater of par plus 25% and any index gain; otherwise, full exposure to decline
Initial index level:	2,091.70
Pricing date:	April 26
Settlement date:	April 29
Underwriters:	HSBC Securities (USA) Inc.
Fees:	3.75%
Cusip:	40433UKH8

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