New Issue: HSBC sells $1.46 million dual directional barrier notes on Dow, Nasdaq, S&P

By Taylor Fox

New York, Dec. 30 – HSBC USA Inc. priced $1.46 million of 0% dual directional barrier notes due Dec. 23, 2025 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus 125% of the return of the worst performing index.

If any index falls but none finish below the 70% trigger level, the payout will be par plus the absolute value of the return of the worst performing index.

Otherwise, investors will lose 1% for each 1% decline of the worst performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying indexes:	Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
Amount:	$1,462,000
Maturity:	Dec. 23, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 125% of return of worst performing index; if any index falls but none falls by more than 30%, par plus absolute value of return of worst performing index; otherwise, 1% loss for each 1% decline of worst performing index
Initial levels:	3,709.41 for S&P, 30,179.05 for Dow and 12,738.18 for Nasdaq
Trigger levels:	70% of initial levels
Pricing date:	Dec. 18
Settlement date:	Dec. 23
Agent:	HSBC Securities (USA) Inc.
Fees:	0.625%
Cusip:	40438CG47

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