New Issue: HSBC sells $8 million dual direction market plus notes on S&P, Russell

By Susanna Moon

Chicago, July 24 – HSBC USA Inc. priced $8 million of 0% digital dual directional market plus notes due July 23, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each index finishes at or above its 67.85% knock-out level, the payout will be par plus the absolute value of the return of the worse performing index.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional market plus notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$8 million
Maturity:	July 23, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains or falls by up to 32.15%, par plus absolute return of worse performing index; otherwise, 1% loss per 1% decline of worse performing index
Initial levels:	2,801.83 for S&P and 1,696.808 for Russell
Knock-out buffer:	32.15%
Pricing date:	July 20
Settlement date:	July 25
Agent:	HSBC Securities (USA) Inc.
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	2%
Cusip:	40435FR25

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