New Issue: HSBC prices $7.48 million dual directional trigger PLUS tied to index

By Devika Patel

Knoxville, Tenn., June 12 – HSBC USA Inc. priced $7.48 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 3, 2020 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 initial level, the payout at maturity will be par of $10 plus 200% of the index return, up to a maximum payout of $12.18 per $10.00 of notes.

If the index falls up to the 80% trigger level, the payout will be par plus the absolute value of the index return.

Otherwise, investors will 1% for each 1% decline of the index from its initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Dual directional Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$7,476,800
Maturity:	June 3, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index gains, par plus 200% of return, capped at $12.18 per $10.00 of notes; if index falls by up to trigger level, par plus absolute value of index return; otherwise, 1% loss for each 1% decline of the index from initial level
Initial level:	2,411.80
Trigger level:	1,929.44, 80% of initial index level
Pricing date:	May 31
Settlement date:	June 5
Agent:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40435D664

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