New Issue: HSBC prices $65,000 dual directional barrier notes tied to S&P 500

By Kiku Steinfeld

Chicago, July 13 – HSBC USA Inc. priced $65,000 of 0% dual directional barrier notes due July 7, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.4 times any index gain.

If the index falls by up to 30%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional barrier notes
Underlying index:	S&P 500
Amount:	$65,000
Maturity:	July 7, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 1.4 times the return; if index falls by up to 30%, par plus absolute value of return; otherwise, 1% loss for each 1% decline
Initial index level:	3,100.29
Pricing date:	June 30
Settlement date:	July 6
Agent:	HSBC Securities (USA) Inc.
Fees:	0.625%
Cusip:	40438CMG3

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