New Issue: HSBC sells $2 million digital dual directional barrier notes on S&P 500

By Susanna Moon

Chicago, Aug. 30 – HSBC USA Inc. priced $2.01 million of 0% digital dual directional barrier securities due Aug. 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its 75% barrier level, the payout at maturity will be par plus the greater of any gain and the 25% digital upside return.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier notes
Underlying indexes:	S&P 500
Amount:	$2,009,000
Maturity:	Aug. 31, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is at least negative 25%, par plus greater of any gain and 25%; otherwise, full exposure to any losses
Initial level:	2,169.04
Barrier level:	75% of initial level
Pricing date:	Aug. 26
Settlement date:	Aug. 31
Agent:	HSBC Securities (USA) Inc.
Fees:	3.625%
Cusip:	40433USG2

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