New Issue: HSBC sells $1.04 million buffered digital notes tied to Russell 2000

By Marisa Wong

Morgantown, W.Va., July 21 – HSBC USA Inc. priced $1.04 million of 0% buffered digital notes due July 6, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par plus the greater of the index return and the digital upside return of 47%.

If the index return is negative but not less than negative 10%, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the index beyond the 10% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered digital notes
Underlying index:	Russell 2000
Amount:	$1,039,000
Maturity:	July 6, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the index return is zero or positive, par plus the greater of the index return and 47%; if the index return is negative but not less than negative 10%, par; otherwise, 1% loss for every 1% drop beyond 10%
Initial level:	3,441.88
Pricing date:	June 30
Settlement date:	July 6
Agent:	HSBC Securities (USA) Inc.
Fees:	2.85%
Cusip:	40435FAP2

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