New Issue: HSBC sells $829,000 dual directional barrier notes tied to Dow, Russell

By Sarah Lizee

Olympia, Wash., Oct. 4 – HSBC USA Inc. priced $829,000 of 0% dual directional barrier notes due Oct. 4, 2021 linked to the lesser performing of the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial value, the payout at maturity will be par plus 125% of the return of the lesser performing index.

If the lesser performing index declines but finishes at or above its trigger value, 75% of its initial value, the payout will be par plus the absolute return of the lesser performing index.

Otherwise, the notes offer full exposure to the decline of the lesser performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying indexes:	Dow Jones Industrial Average, Russell 2000 index
Amount:	$829,000
Maturity:	Oct. 4, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial value, par plus 125% of the return of the lesser performing index; if the lesser performing index declines but finishes at or above its 25% trigger value, par plus the absolute return of the lesser performing index; otherwise, full exposure to decline of the lesser performing index
Initial levels:	26,458.31 for Dow, 1,696.571 for Russell
Pricing date:	Sept. 28
Settlement date:	Oct. 3
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40435F2U0

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