New Issue: HSBC sells $959,000 digital dual directional barrier notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Sept. 27 – HSBC USA Inc. priced $959,000 of 0% digital dual directional barrier securities due Sept. 30, 2022 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 70% barrier level, the payout at maturity will be par plus the greater of any gain and the 30% minimum 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:	$959,000
Maturity:	Sept. 30, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is at least negative 30%, par plus greater of any gain and 30%; otherwise, full exposure to any losses
Initial level:	2,164.69
Barrier level:	70% of initial level
Pricing date:	Sept. 23
Settlement date:	Sept. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	3.25%
Cusip:	40433UTX4

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