New Issue: HSBC sells $1.8 million dual directional buffered notes on Nasdaq, Russell, Dow

By William Gullotti

Buffalo, N.Y., June 1– HSBC USA Inc. priced $1.8 million of 0% dual directional buffered notes due May 28, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 1.47 times the return of the least performing index.

If any index falls but none finish below the 90% buffer 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 performer beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
Amount:	$1.8 million
Maturity:	May 28, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 1.47 times the gain of least performing index; if any index falls but none fall by more than 10%, par plus the absolute value of return of worst performer; otherwise, 1% loss for each 1% decline of worst performer below 10%
Initial levels:	31,928.62 for Dow, 11,769.84 for Nasdaq, 1,764.826 for Russell
Buffer levels:	90% of initial levels
Pricing date:	May 24
Settlement date:	May 27
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40439J5D3

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