New Issue: HSBC sells $2.99 million dual directional buffered notes on Dow, Nasdaq

By Wendy Van Sickle

Columbus, Ohio, March 9 – HSBC USA Inc. priced $2.99 million of 0% dual directional buffered notes due March 4, 2022 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain of the lesser performing index, capped at par plus 28.5%.

If either index falls but the lesser performer declines by no more than the 14% buffer amount, then the payout at maturity will be par plus the absolute value of the return of the lesser performing index.

If the lesser performing index declines by more than 10%, then the payout will be par less the loss of that index beyond the 14% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	Dow Jones industrial average and Nasdaq-100
Amount:	$2,993,000
Maturity:	March 4, 2022
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus any gain of lesser-performing index capped at par plus 28.5%; if lesser-performing index falls by up to 14%, par plus absolute value of its return; otherwise, exposure to losses of lesser-performing index beyond 14% buffer
Initial values:	8,461.835 for Nasdaq, 25,409.36 for Dow
Buffer levels:	7,277.1781 for Nasdaq, 21,852.0496 for Dow, 86% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 4
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40435U4Q4

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