New Issue: HSBC prices $248,000 dual directional buffered notes linked to Nasdaq, Russell

By Kiku Steinfeld

Chicago, June 20 – HSBC USA Inc. priced $248,000 of 0% dual directional buffered notes due Feb. 3, 2025 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain in the lesser-performing index.

If any index falls but none finish below the 85% buffer level, the payout will be par plus the absolute value of the return of the worst performing index.

Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 15%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	Nasdaq-100 index and Russell 2000 index
Amount:	$248,000
Maturity:	Feb. 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain in lesser-performing index; if any index falls but none fall by more than 15%, par plus the absolute value of return of worst performer; otherwise, 1% loss for each 1% decline of worst performer below 15%
Initial levels:	12,101.93 for Nasdaq and 1,931.945 for Russell
Buffer levels:	85% of initial levels
Pricing date:	Jan. 31, 2023
Settlement date:	Feb. 3, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40441XZL7

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