New Issue: HSBC sells $352,000 dual directional barrier notes on iShares MSCI EAFE, Stoxx

By Sarah Lizee

Olympia, Wash., Sept. 10 – HSBC USA Inc. priced $352,000 of 0% dual directional barrier securities due Sept. 6, 2022 linked to the least performing of the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each asset closes above its initial level, the payout will be par plus 194% of the return of the lesser-performing asset.

If any asset finishes flat or falls below its barrier level, 75% of initial level, the payout at maturity will be par plus the absolute value of the return of the lesser-performing asset.

Investors will lose 1% for each 1% loss of the lesser-performing asset from its initial level if any asset finishes below the 75% barrier level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier securities
Underlying assets:	iShares MSCI EAFE ETF and Euro Stoxx 50 index
Amount:	$352,000
Maturity:	Sept. 6, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes above initial level, par plus 194% of lesser-performing asset’s return; if lesser-performing asset closes below its initial level but above the barrier level, par plus the absolute value of the return; otherwise, 1% loss per 1% drop of lesser-performing asset
Initial levels:	$63.21 for MSCI EAFE, 3,426.76 for Stoxx
Trigger levels:	$47.4075 for MSCI EAFE, 2,570.07 for Stoxx; 75% of initial levels
Pricing date:	Aug. 30
Settlement date:	Sept. 5
Underwriter:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435UTV6

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