New Issue: HSBC sells $1.33 million dual directional barrier notes linked to S&P

By Sarah Lizee

Olympia, Wash., July 16 – HSBC USA Inc. priced $1.33 million of 0% dual directional barrier notes due July 18, 2023 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes at or above the initial level, the payout at maturity will be par plus the digital amount of 42%.

If the index finishes below the initial level but at or above the barrier level, 70% of the initial level, the payout at maturity will be par plus the absolute value of the index return.

If the index finishes below the barrier level, investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying index:	S&P 500
Amount:	$1,333,000
Maturity:	July 18, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above initial level, par plus digital amount of 42%; if index finishes below initial level but at or above the barrier level, par plus absolute value of index return; if index finishes below barrier level, 1% loss for each 1% decline
Initial index level:	2,801.31
Barrier level:	1,960.917, 70% of initial level
Pricing date:	July 13
Settlement date:	July 18
Agent:	HSBC Securities (USA) Inc.
Fees:	0.75%
Cusip:	40435FN94

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