New Issue: HSBC sells $670,000 digital dual directional barrier notes tied to S&P 500, Russell

By Susanna Moon

Chicago, Dec. 23 – HSBC USA Inc. priced $670,000 of 0% digital dual directional barrier securities due Dec. 31, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of any gain of the worse performing index and the digital upside return of 40%.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying indexes:	S&P 500
Amount:	$670,000
Maturity:	Dec. 31, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its 70% barrier level, par plus greater of 40% and any gain of worse performing index; otherwise, full exposure to any losses of worse performing index
Initial levels:	2,265.18 for S&P, 1,375.193 for Russell
Barrier levels:	1,585.626 for S&P, 962.6351 for Russell; 70% of initial levels
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40433UB54

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