New Issue: HSBC sells $1.34 million dual directional buffered notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, June 3 – HSBC USA Inc. priced $1.34 million of 0% dual directional buffered notes due Dec. 4, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the gain of the least performing index, subject to a maximum return of 43.4%.

If any index falls but the least performer declines by no more than the 10% buffer amount, then the payout at maturity will be par plus the absolute value of the return of the least performing index.

If the least performing index declines by more than 10%, then the payout will be par less the loss of that index beyond the 10% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	S&P 500 index and the Russell 2000 index
Amount:	$1,342,000
Maturity:	Dec. 4, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain of the least performing index, subject to a maximum return of 43.4%; if any index falls but the least performer declines by no more than the buffer amount, par plus the absolute value of the return of the least performing index; if the least performing index declines by more than buffer level, par less the loss of that index beyond the buffer
Initial values:	4,132.15 for S&P, 1,864.043 for Russell
Buffer levels:	90% of initial levels
Pricing date:	May 31
Settlement date:	June 3
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40439J3H6

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