New Issue: HSBC prices $1.18 million dual directional barrier notes on index, ETF

By Sarah Lizee

Olympia, Wash., March 5 – HSBC USA Inc. priced $1.18 million of 0% dual directional barrier notes due March 7, 2022 linked to the lesser performing of the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each asset closes at or above its initial level, the payout at maturity will be par plus 2.29 times the return of the least performing asset.

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

Otherwise, investors will be fully exposed to the decline of the worse performing asset.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying assets:	iShares MSCI EAFE ETF and the Euro Stoxx 50
Amount:	$1.18 million
Maturity:	March 7, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes at or above initial level, par plus 2.29 times return of least performing asset; if least performing asset falls by up to 25%, par plus absolute value of its return; otherwise, exposure to the decline of the worse performing asset
Initial levels:	3,298.26 for index, $64.27 for ETF
Trigger levels:	2,473.70 for index, $48.20 for ETF; 75% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 5
Fees:	0%
Cusip:	40435UFC3

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