New Issue: HSBC sells $1.53 million dual directional barrier notes on Stoxx, EAFE

By Marisa Wong

Morgantown, W.Va., April 22 – HSBC USA Inc. priced $1.53 million of 0% dual directional barrier securities due April 4, 2022 linked to the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each underlying finishes above its initial level, the payout at maturity will be par plus 2.21 times the return of the lesser performing underlying.

If either underlying falls but not below the 75% trigger level, the payout will be par plus the absolute return of the lesser performing underlying.

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

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier securities
Underlying assets:	iShares MSCI EAFE ETF, Euro Stoxx 50 index
Amount:	$1,533,000
Maturity:	April 4, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlying finishes above its initial level, par plus 2.21 times the gain of the lesser performing underlying; if either underlying falls but not below the trigger level, par plus the absolute return of the lesser performing underlying; otherwise, 1% loss for each 1% decline of the worse performing underlying
Initial values:	$64.86 for ETF and 3,351.71 for index
Trigger values:	$48.65 for ETF and 2,513.78 for index; 75% of initial values
Pricing date:	March 29
Settlement date:	April 3
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435UHD9

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