New Issue: HSBC sells $780,000 digital dual directional barrier notes on indexes

By Wendy Van Sickle

Columbus, Ohio, Aug. 5 – HSBC USA Inc. priced $780,000 of 0% digital dual directional barrier securities due July 30, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the lesser performing index is at least negative 30%, the payout at maturity will be par plus the greater of the return of the lesser performing index and the 40% digital upside return.

Otherwise, investors will be fully exposed to the loss of the lesser performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier notes
Underlying indexes:	S&P 500, and Russell 2000
Amount:	$780,000
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If return of lesser performing index is at least negative 30%, par plus greater of its return and 40%; otherwise, full exposure to loss of lesser performing index
Initial levels:	2,169.18 for S&P, 1,216.859 for Russell
Barrier levels:	1,518.43 for S&P, 851.801 for Russell, 70% of initial levels
Pricing date:	July 26
Settlement date:	July 29
Agent:	HSBC Securities (USA) Inc.
Fees:	0.55%
Cusip:	40433UQY5

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