New Issue: HBSC sells $5.91 million dual directional buffered participation notes on Nasdaq

By Kiku Steinfeld

Chicago, Oct. 19 – HSBC USA Inc. priced $5.91 million of 0% dual directional buffered participation securities due April 5, 2022 linked to the Nasdaq-100 index, 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 par plus the return of the index, capped at par plus 13%.

If the index falls but by no more than the 10% buffer, the payout will be par plus the absolute value of the return.

If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.

HSBC Securities (USA) Inc.is the agent with Morgan Stanley Wealth Management acting as a dealer.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered participation notes
Underlying index:	Nasdaq-100 index
Amount:	$5,905,860
Maturity:	April 5, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above the initial level, par the return of the index, capped at par plus 13%; if the index falls but by no more than the 10% buffer, par plus the absolute value of the return; if the index falls by more than 10%, 1% loss for every 1% decline beyond the 10% buffer
Initial level:	3,385.49
Buffer level:	90% of initial level
Pricing date:	Sept. 30
Settlement date:	Oct. 5
Agent:	HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as a dealer
Fees:	2.5%
Cusip:	40438Q829

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