New Issue: HSBC sells $565,000 digital dual direction barrier notes on S&P, Russell

By Susanna Moon

Chicago, Jan. 2 – HSBC USA Inc. priced $565,000 of 0% digital dual directional barrier securities due Dec. 21, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each index finishes at or above its 70% barrier level, the payout at maturity will be par plus the greater of the return of the worse performing index and the digital upside return of 27%.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$565,000
Maturity:	Dec. 21, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains or falls by up to 30%, par plus greater of 27% and return of worse performing index; otherwise, 1% loss per 1% decline of worse performing index
Initial levels:	2,546.16 for S&P, 1,377.176 for Russell
Barrier levels:	1,782.31 for S&P, 964.023 for Russell; 70% of initial levels
Pricing date:	Dec. 18
Settlement date:	Dec. 21
Agent:	HSBC Securities (USA) Inc.
Fees:	3.75%
Cusip:	40435UBP8

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