New Issue: HSBC sells $1.44 million digital dual directional barrier notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., June 27 – HSBC USA Inc. priced $1.44 million of 0% digital dual directional barrier securities due June 28, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each index finishes at or above its 70% barrier level, the payout will be par plus the greater of the return of the worse performing index and the digital upside return of 23%.

Otherwise, investors will lose 1% for each 1% decline 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:	$1,435,000
Maturity:	June 28, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above barrier level, par plus greater of return of worse performing index and 23%; otherwise, 1% loss per 1% drop of worse performing index
Initial levels:	2,917.38 for S&P, 1,521.035 for Russell
Barrier levels:	2,042.17 for S&P, 1,064.725 for Russell; 70% of initial levels
Pricing date:	June 25
Settlement date:	June 28
Underwriter:	HSBC Securities (USA) Inc.
Fees:	3.75%
Cusip:	40435UPH1

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