New Issue: HSBC prices $108,000 dual directional barrier notes linked to S&P, Dow

By Angela McDaniels

Tacoma, Wash., May 4 – HSBC USA Inc. priced $108,000 of 0% dual directional barrier notes due June 3, 2027 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser-performing index’s return is greater than or equal to zero, the payout at maturity will be par plus 121.9% of the lesser-performing index’s return. If the lesser-performing index’s return is less than zero but greater than or equal to negative 25%, the payout will be par plus the absolute value of the lesser-performing index’s return. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$108,000
Maturity:	June 3, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser-performing index’s return is greater than or equal to zero, par plus 121.9% of lesser-performing index’s return; if lesser-performing index’s return is less than zero but greater than or equal to negative 25%, par plus absolute value of lesser-performing index’s return.; otherwise, 1% loss for every 1% that lesser-performing index declines
Initial levels:	4,132.15 for S&P and 32,990.12 for Dow
Barrier levels:	75% of initial levels
Pricing date:	May 31, 2022
Settlement date:	June 3, 2022
Agent:	HSBC Securities (USA) Inc.
Fees:	0.75%
Cusip:	40439J3G8

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