New Issue: HSBC sells $3.7 million digital dual directional barrier notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, April 5 – HSBC USA Inc. priced $3.7 million of 0% digital dual directional barrier securities due March 31, 2022 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 35%.

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 and Russell 2000
Amount:	$3,697,000
Maturity:	March 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its 70% barrier level, par plus greater of 35% and any gain of worse performing index; otherwise, full exposure to any losses of worse performing index
Initial levels:	2,358.57 for S&P 500, 1,367.261 for Russell 2000
Barrier levels:	1,650.999 for S&P, 957.0827 for Russell; 70% of initial levels
Pricing date:	March 28
Settlement date:	March 31
Agent:	HSBC Securities (USA) Inc.
Fees:	3.25%
Cusip:	40433UU46

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