New Issue: HSBC sells $12.76 million dual directional trigger PLUS tied to S&P 500

By Susanna Moon

Chicago, April 27 – HSBC USA Inc. priced $12.76 million of 0% dual directional trigger Performance Leveraged Upside Securities due April 25, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 124% of the gain.

If the index falls by up to its 75% trigger level, the payout will be par plus the absolute value of the index return.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$12,758,770
Maturity:	April 25, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 124% of return; if index falls by up to 25%, par plus absolute return; otherwise, 1% loss per 1% decline
Initial level:	2,670.14
Trigger level:	2,002.605, 75% of initial level
Pricing date:	April 20
Settlement date:	April 25
Agent:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40435M623

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