HSBC to price dual directional trigger PLUS linked to S&P, Russell

New York, March 16 – HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due March 25, 2019 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

If the final level of the worst performing index is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 112% of the return of the worst performing index with no cap.

If the final level of the worst performing index is less than its initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level will be 80% of the initial index level.

If the final level of the worst performing index is less than the trigger level, investors will be exposed to the decline of the worst performing index from its initial level.

HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.

The notes will price on March 20 and settle on March 23.

The Cusip number is 40435H640.

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