New Issue: HSBC sells $2.02 million digital dual directional barrier notes on S&P

By Susanna Moon

Chicago, Oct. 16 – HSBC USA Inc. priced $2.02 million of 0% digital dual directional barrier securities due Oct. 6, 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 80% barrier level, the payout at maturity will be par plus the greater of the return and 18%.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying index:	S&P 500
Amount:	$2,021,000
Maturity:	Oct. 6, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above barrier level, par plus greater of return and 18%; otherwise, 1% loss for each 1% decline
Initial index level:	2,534.58
Barrier level:	80% of initial level
Pricing date:	Oct. 3
Settlement date:	Oct. 6
Agent:	HSBC Securities (USA) Inc.
Fees:	3.625%
Cusip:	40435FHP5

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