New Issue: HSBC prices $1.88 million digital dual directional barrier notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 28 – HSBC USA Inc. priced $1.88 million of 0% digital dual directional barrier notes due Jan. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 20%, the payout at maturity will be par plus the greater of the index return and 27%. If the index return is less than negative 20%, investors will be fully exposed to the decline.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier notes
Underlying index:	S&P 500
Amount:	$1,884,000
Maturity:	Jan. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is greater than or equal to negative 20%, par plus greater of index return and 27%; if index return is less than negative 20%, full exposure to index decline
Initial index level:	1,903.63
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	HSBC Securities (USA) Inc.
Fees:	3.625%
Cusip:	40433UFN1

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