New Issue: HSBC sells $3.15 million buffered digital notes tied to Russell

By Wendy Van Sickle

Columbus, Ohio, April 5 – HSBC USA Inc. priced $3.15 million of 0% buffered digital notes due Sept. 30, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above 80% of its initial level, the payout at maturity will be par plus the digital upside return of 18%.

Otherwise, investors will lose 1% for every 1% decline of the index beyond the 20% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered digital notes
Underlying index:	Russell 2000
Amount:	$3,145,000
Maturity:	Sept. 30, 2020
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index return is greater than or equal to negative 20%, par plus 18%; otherwise, 1% loss for every 1% decline of index
Initial level:	1,367.261
Pricing date:	March 28
Settlement date:	March 31
Agent:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40433UW69

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