New Issue: HSBC prices $1.01 million dual directional barrier notes linked to Dow

By Wendy Van Sickle

Columbus, Ohio, March 27 – HSBC USA Inc. priced $1.01 million of 0% dual directional barrier notes due March 29, 2023 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain.

If the index falls by up to 30%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying index:	Dow Jones Industrial Average
Amount:	$1,007,000
Maturity:	March 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus return; if index falls by up to 30%, par plus absolute value of return otherwise, 1% loss for each 1% decline
Initial index level:	23,533.20
Trigger level:	16,473.24, 70% of initial level
Pricing date:	March 23
Settlement date:	March 29
Agent:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40435FWB9

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