New Issue: HSBC sells $447,000 digital dual directional barrier notes on index, fund

By Wendy Van Sickle

Columbus, Ohio, Aug. 15 – HSBC USA Inc. priced $447,000 of 0% digital dual directional barrier securities due Aug. 3, 2021 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filed with the Securities and Exchange Commission.

If each asset finishes at or above its initial level, the payout at maturity will be par plus 2 times the return of the lesser performing asset.

If either asset falls by up to 25%, the payout will be par plus the absolute value of the return of the lesser performing asset.

Otherwise, investors will lose 1% for each 1% decline of the worse performing asset.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying assets:	Euro Stoxx 50 index and iShares MSCI EAFE ETF
Amount:	$447,000
Maturity:	Aug. 3, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes at or above initial level, par plus 2 times return of worse performing asset; if either asset falls by up to 25%, par plus absolute value of lesser performing-asset return; otherwise, 1% loss per 1% drop of worse performing asset
Initial levels:	3,525.49 for index and $68.88 for ETF
Barrier levels:	2,644.1175 for index and $51.66 for ETF, 75% of initial levels
Pricing date:	July 31
Settlement date:	Aug. 3
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40435FP68

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