New Issue: HSBC prices $316,000 dual directional buffered notes linked to S&P, Nasdaq, Russell

By Angela McDaniels

Tacoma, Wash., April 3 – HSBC USA Inc. priced $316,000 of 0% dual directional buffered notes due July 8, 2024 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the least performing index’s return is greater than or equal to zero, the payout at maturity will be par plus the least performing index’s return, subject to maximum return of 12%.

If the least performing index declines by up to 20%, the payout will be par plus the absolute value of that index’s return.

If the least performing index declines by more than 20%, investors will lose 1% for every 1% that the least performing index declines beyond 20%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	S&P 500 index, Nasdaq-100 index and Russell 2000 index
Amount:	$316,000
Maturity:	July 8, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If least performing index’s return is greater than or equal to zero, par plus least performing index’s return, subject to maximum return of 12%; if least performing index declines by up to 20%, par plus absolute value of that index’s return; otherwise, 1% loss for every 1% that least performing index declines beyond 20%
Initial levels:	4,450.38 for S&P, 15,179.21 for Nasdaq and 1,888.734 for Russell
Buffer levels:	80% of initial level
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	0.6%
Cusip:	40447ADC5

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