HSBC plans five-year buffered digital notes linked to the Dow

By Marisa Wong

Morgantown, W.Va., May 20 – HSBC USA Inc. plans to price 0% buffered digital notes due May 28, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the initial level, the payout at maturity will be par plus the digital return of 21% to 25%. The exact digital return will be set at pricing.

Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on May 25 and settle on May 31.

The Cusip number is 40433UMP8.

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