New Issue: HSBC prices $3.44 million digital dual direction barrier notes tied to Russell, S&P 500

By Susanna Moon

Chicago, June 6 – HSBC USA Inc. priced $3.44 million of 0% digital dual directional barrier securities due May 31, 2022 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 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 30%.

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

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$3,444,000
Maturity:	May 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its 70% barrier, par plus greater of 30% and any gain of worse performing index; otherwise, full exposure to any losses of worse performing index
Initial index levels:	2,415.07 for S&P and 1,383.388 for Russell
Barrier levels:	1,690.549 for S&P and 968.3716 for Russell, 70% of initial levels
Pricing date:	May 25
Settlement date:	May 31
Agent:	HSBC Securities (USA) Inc.
Fees:	3.25%
Cusip:	40433U3X2

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