New Issue: HSBC sells $1.77 million digital dual directional barrier notes on indexes, fund

By Wendy Van Sickle

Columbus, Ohio, Oct. 29 – HSBC USA Inc. priced $1.77 million of 0% digital dual directional barrier securities due Oct. 30, 2023 linked to S&P 500 index, the Russell 2000 index and the Invesco QQQ Trust, Series 1, according to a 424B2 filed with the Securities and Exchange Commission.

If each asset finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of the return of the worst performing asset and the digital upside return of 36%.

Otherwise, investors will lose 1% for each 1% decline of the worse performing asset.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying assets:	S&P 500 index, Russell 2000 index and Invesco QQQ Trust, Series 1
Amount:	$1,769,000
Maturity:	Oct. 30, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes at or above 70% barrier level, par plus greater of return of worse performing asset and 36%; if either asset falls by up to 30%, par plus absolute value of lesser performing-asset return; otherwise, 1% loss per 1% drop of worse performing asset
Initial levels:	2,656.1 for S&P, 1,468.698 for Russell and $165.34 for ETF
Barrier levels:	1,859.27 for S&P, 1,028.0886 for Russell and $115.738 for ETF, 70% of initial levels
Pricing date:	Oct. 24
Settlement date:	Oct. 29
Agent:	HSBC Securities (USA) Inc.
Fees:	3.625%
Cusip:	40435F6C6

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