New Issue: HSBC prices $1.36 million dual directional barrier notes on S&P 500, Russell 2000

By Susanna Moon

Chicago, March 4 – HSBC USA Inc. priced $1.36 million of 0% dual directional barrier notes due March 7, 2018 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.

If each index finishes above its initial level, the payout at maturity will be par plus the return of the worse performing index.

If either index falls but by no more than 29%, the payout will be par plus the absolute value of the return of the worse performing index.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$1,364,000
Maturity:	March 7, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus return of worse performing index; if either index falls but by no more than 29%, par plus absolute value of return of worse performing index; otherwise, full exposure to any losses of worse performing index
Initial levels:	1,986.45 for S&P, 1,065.673 for Russell
Trigger levels:	1,410.38 for S&P, 756.628 for Russell; 71% of initial levels
Pricing date:	March 2
Settlement date:	March 7
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40433UJT4

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