New Issue: HSBC sells $752,000 dual directional barrier notes on Stoxx, EAFE ETF

By Sarah Lizee

Olympia, Wash., Dec. 7 – HSBC USA Inc. priced $752,000 of 0% dual directional barrier notes due Dec. 6, 2021 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each underlying finishes above its initial level, the payout at maturity will be par plus 228% of the gain of the lesser-performing underlying.

If either underlying falls but neither falls by more than 25%, the payout will be par plus the absolute value of the return of the lesser-performing underlying.

Otherwise, investors will lose 1% for every 1% decline of the lesser-performing underlying from its initial level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlyings:	iShares MSCI EAFE ETF and Euro Stoxx 50 index
Amount:	$752,000
Maturity:	Dec. 6, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlying finishes above its initial level, par plus 228% of the gain of the lesser-performing underlying; if either underlying falls but neither falls by more than 25%, par plus the absolute value of the return of the lesser-performing underlying; otherwise, 1% loss for every 1% decline of the lesser-performing underlying from its initial level
Initial values:	$62.77 for ETF and 3,173.13 for index
Trigger values:	$47.08 for ETF and 2,379.85 for index; 75% of initial values
Pricing date:	Nov. 30
Settlement date:	Dec. 5
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435F6U6

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