New Issue: HSBC sells $115,000 digital dual directional barrier notes on S&P 500, Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Dec. 27 – HSBC USA Inc. priced $115,000 of 0% digital dual directional barrier securities due Dec. 22, 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 28%. 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:	$115,000
Maturity:	Dec. 27, 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 28%; otherwise, 1% loss for every 1% that final level of lesser-performing index is less than initial level
Initial index levels:	2,679.25 for S&P and 1,540.076 for Russell
Barrier levels:	1,875.48 for S&P and 1,078.053 for Russell, 70% of initial levels
Pricing date:	Dec. 20
Settlement date:	Dec. 26
Agent:	HSBC Securities (USA) Inc.
Fees:	0.625%
Cusip:	40435FMP9

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