New Issue: HSBC prices $436,000 dual directional buffered notes linked to S&P

By Angela McDaniels

Tacoma, Wash., April 3 – HSBC USA Inc. priced $436,000 of 0% dual directional buffered notes due July 7, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to zero, the payout at maturity will be par plus 300% of the index return, subject to maximum return of 21%.

If the index declines by up to 10%, the payout will be par plus the absolute value of the index return.

If the index declines by more than 10%, investors will lose 1% for every 1% that the index declines beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying index:	S&P 500 index
Amount:	$436,000
Maturity:	July 7, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to zero, par plus 300% of index return, subject to maximum return of 21%; if index declines by up to 10%, par plus absolute value of index return; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial level:	4,450.38
Buffer level:	90% of initial level
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40447ACK8

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