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Published on 2/16/2021 in the Prospect News Structured Products Daily.

New Issue: HSBC sells $276,000 dual directional barrier notes on three indexes

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – HSBC USA Inc. priced $276,000 of 0% dual directional barrier notes due Feb. 3, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus 1.23 times the return of the worst performing index.

If any index falls but none finishes below the 70% trigger level, the payout will be par plus the absolute value of the return of the worst performing index.

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

HSBC Securities (USA) Inc. is the agent.

Issuer:HSBC USA Inc.
Issue:Dual directional barrier notes
Underlying indexes:Russell 2000 index, S&P 500 index and Nasdaq-100 index
Amount:$276,000
Maturity:Feb. 3, 2026
Coupon:0%
Price:Par
Payout at maturity:If each index gains, par plus 1.23 times the gain of worst performing index; if any index falls but none falls by more than 30%, par plus absolute value of return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
Initial levels:12,925.38 for Nasdaq, 2,073.641 for Russell, 3,714.24 for S&P
Trigger levels:70% of initial levels
Pricing date:Jan. 29
Settlement date:Feb. 3
Agent:HSBC Securities (USA) Inc.
Fees:0.625%
Cusip:40438CN80

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