New Issue: HSBC sells $163,000 digital dual directional notes on S&P, Russell

By Marisa Wong

Morgantown, W.Va., Aug. 16 – HSBC USA Inc. priced $163,000 of 0% digital dual directional barrier notes due Aug. 8, 2022 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 initial level, the payout will be par plus 35%.

If either index falls but neither falls by more than 30%, the payout will be par plus the absolute value of the return of the lesser 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 barrier securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$163,000
Maturity:	Aug. 8, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 35%; if either index falls but neither falls by more than 30%, par plus the absolute value of the return of the lesser performing index; otherwise, 1% loss for each 1% decline of the worse performing index
Initial levels:	1,673.372 for Russell and 2,840.35 for S&P (closing levels on Aug. 3)
Pricing date:	Aug. 14
Settlement date:	Aug. 17
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435FX28

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