New Issue: HSBC sells $727,000 dual directional buffered notes on Dow, Nasdaq

By Devika Patel

Knoxville, Tenn., Dec. 31 – HSBC USA Inc. priced $727,000 of 0% dual directional buffered notes due Dec. 30, 2021 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain of the lesser performing index, capped at par plus 30%.

If either index falls but the lesser performer declines by no more than the 15% buffer amount, then the payout at maturity will be par plus the absolute value of the return of the lesser performing index.

If the lesser performing index declines by more than 15%, then the payout will be par less the loss of that index beyond the 15% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	Dow Jones industrial average and Nasdaq-100
Amount:	$727,000
Maturity:	Dec. 30, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus any gain of lesser-performing index capped at par plus 30%; if lesser-performing index falls by up to 15%, par plus absolute value of its return; otherwise, exposure to losses of lesser-performing index beyond 15% buffer
Initial values:	28,455.09 for Dow and 8,678.491 for Nasdaq
Buffer levels:	24,186.8265 for Dow and 7,376.71735 for Nasdaq, 85% of initial levels
Pricing date:	Dec. 20
Settlement date:	Dec. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435UQ64

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