New Issue: HSBC prices $1.37 million dual directional barrier notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Aug. 23 – HSBC USA Inc. priced $1.37 million of 0% digital dual directional barrier notes due Aug. 26, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 30%, the payout at maturity will be par plus the greater of the index return and the minimum upside return or 31%. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier notes
Underlying index:	S&P 500
Amount:	$1,371,000
Maturity:	Aug. 26, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 30%, par plus greater of index return and 31%; if index return is less than negative 30%, 1% loss for every 1% that final index level is less than initial index level
Initial index level:	2,183.87
Pricing date:	Aug. 19
Settlement date:	Aug. 26
Agent:	HSBC Securities (USA) Inc.
Fees:	3.25%
Cusip:	40433URY4

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