By Sarah Lizee
Olympia, Wash., May 28 – HSBC USA Inc. priced $345,000 of 0% dual directional barrier securities due May 29, 2026 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout will be par plus 1.25 times the return of the index.
If the index finishes flat or falls by up to 20%, the payout will be par plus the absolute value of the return of the index.
If the index falls by more than 20%, investors will be fully exposed to the decline of the index.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
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| Issue: | Dual directional barrier securities
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| Underlying index: | Dow Jones industrial average
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| Amount: | $345,000
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| Maturity: | May 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes above its initial level, par plus 1.25 times the return of the index; if the index finishes flat or falls by up to 20%, par plus the absolute value of the return of the index; if the index falls by more than 20%, investors will be fully exposed to the decline of the index
|
| Initial level: | 24,465.16
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| Barrier level: | 80% of initial level
|
| Pricing date: | May 22
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| Settlement date: | May 29
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 3.25%
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| Cusip: | 40438CHH7
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