New Issue: HSBC sells $2.5 million buffered digital notes tied to Russell, S&P

By Marisa Wong

Morgantown, W.Va., March 17 – HSBC USA Inc. priced $2.5 million of 0% buffered digital notes due Jan. 4, 2021 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.

If each index finishes at or above 80% of its initial level, the payout at maturity will be par plus the digital upside return of 28.5%.

Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond the 20% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered digital notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$2.5 million
Maturity:	Jan. 4, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index return of worse performer is greater than or equal to negative 20%, par plus 28.5%; otherwise, 1% loss for every 1% decline of worse performer beyond 20%
Initial index levels:	1,365.27 for Russell, 2,372.60 for S&P
Pricing date:	March 10
Settlement date:	March 15
Agent:	HSBC Securities (USA) Inc.
Fees:	1.25%
Cusip:	40433UX84

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