New Issue: HSBC sells $1.42 million digital barrier securities tied to S&P, Russell

By Sarah Lizee

Olympia, Wash., March 20 – HSBC USA Inc. priced $1.42 million of 0% digital barrier securities due March 21, 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 the lesser performing index finishes at or above its initial level, the payout at maturity will be par plus the digital upside return of 32%.

If the lesser performing index falls but ends at or above its 70% barrier level, the payout at maturity will be par.

Otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital barrier securities
Underlying indexes:	S&P 500, Russell 2000
Amount:	$1,421,000
Maturity:	March 21, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser performing index finishes at or above its initial level, par plus 32%; if lesser performing index falls by up to 30%, par; otherwise, full exposure to losses of lesser performing index
Initial levels:	2,832.94 for S&P, 1,563.932 for Russell
Pricing date:	March 18
Settlement date:	March 21
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435UJL9

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