New Issue: HSBC prices $1.09 million digital dual directional barrier notes linked to Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, July 6 – HSBC USA Inc. priced $1.09 million of 0% digital dual directional barrier securities due June 30, 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 barrier level, 70% of its initial level, the payout at maturity will be par plus the greater of the lesser-performing index’s return and 34%. Otherwise, investors will lose 1% for every 1% that the final level of the lesser-performing index is less than its initial level.

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:	$1,088,000
Maturity:	June 30, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above barrier level, par plus greater of lesser-performing index’s return and 34%; otherwise, 1% loss for every 1% that final level of lesser-performing index is less than initial level
Initial index levels:	2,419.38 for S&P 500 and 1,403.522 for Russell 2000
Barrier levels:	1,693.566 for S&P 500 and 982.4654 for Russell 2000, 70% of initial levels
Pricing date:	June 27
Settlement date:	June 30
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40433U5X0

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