New Issue: HSBC prices $4.34 million digital dual directional barrier notes on Stoxx Europe 600 Banks

By Wendy Van Sickle

Columbus, Ohio, Feb. 21 – HSBC USA Inc. priced $4.34 million of 0% digital dual directional barrier notes due Feb. 24, 2020 linked to the Stoxx Europe 600 Banks index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 20%, the payout at maturity will be par plus the fixed return of 32.25%. If the index return is less than negative 20%, investors will be fully exposed to the decline from the initial level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier notes
Underlying index:	Stoxx Europe 600 Banks
Amount:	$4.34 million
Maturity:	Feb. 24, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 20%, par plus 32.25%; if index return is less than negative 20%, 1% loss for every 1% that final index level is less than initial index level
Initial index level:	175.18
Pricing date:	Feb. 17
Settlement date:	Feb. 23
Agent:	HSBC Securities (USA) Inc.
Fees:	2.25%
Cusip:	40433UR65

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