New Issue: HSBC prices $817,000 capped dual directional barrier notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Sept. 7 – HSBC USA Inc. priced $817,000 of 0% capped dual directional barrier notes due March 5, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, subject to a maximum return of 18.5%.

If the index falls by up to 25%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Capped dual directional barrier notes
Underlying index:	S&P 500
Amount:	$817,000
Maturity:	March 5, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus return, with gain capped at 18.5%; if index falls by up to 25%, par plus absolute value of return otherwise, 1% loss for each 1% decline
Initial index level:	2,901.13
Trigger level:	2,175.8475, 75% of initial level
Pricing date:	Aug. 30
Settlement date:	Sept. 5
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40435FW78

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