New Issue: HSBC prices $545,000 digital barrier notes linked to Dow, S&P

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – HSBC USA Inc. priced $545,000 of 0% digital barrier notes due Oct. 23, 2023 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes above its initial level, the payout at maturity will be par plus the greater of 1.25 times the return of the lesser performing index and the 33% digital return.

If the lesser-performing index falls by up to 40%, the payout will be par. Otherwise, investors will be fully exposed to any losses of the worst performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital barrier notes
Underlying indexes:	S&P 500, S&P 500, Dow Jones industrial average
Amount:	$545,000
Maturity:	Oct. 23, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes above initial level, par plus greater of 1.25 times lesser performing index return and 33% digital return; if laggard index falls by up to 40%, par; otherwise, full exposure to decline of lesser performing index
Initial levels:	2,768.78 for S&P, 25,379.45 for Dow
Pricing date:	Oct. 18
Settlement date:	Oct. 23
Agent:	HSBC Securities (USA) Inc.
Fees:	0.625%
Cusip:	40435F5X1

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