New Issue: HSBC prices $671,000 dual directional buffered notes linked to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Nov. 21 – HSBC USA Inc. priced $671,000 of 0% dual directional buffered notes due May 3, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the lesser performing index’s return is greater than or equal to zero, the payout at maturity will be par plus 110% of that index’s return, subject to a maximum return of 46.9%.

If the lesser performing index’s return is less than zero but greater than or equal to negative 10%, the payout will be par plus the absolute value of the lesser performing index’s return.

If the lesser performing index’s return is less than negative 10%, investors will lose 1% for every 1% that the index declines beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual directional buffered notes
Underlying indexes:	S&P 500 index and the Russell 2000 index
Amount:	$671,000
Maturity:	May 3, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If lesser performing index’s return is greater than or equal to zero, par plus 110% of that index’s return, subject to maximum return of 46.9%; if lesser performing index’s return is less than zero but greater than or equal to negative 10%, par plus absolute value of lesser performing index’s return; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial levels:	3,871.98 for S&P and 1,846.863 for Russell
Buffer levels:	90% of initial levels
Pricing date:	Oct. 31, 2022
Settlement date:	Nov. 3, 2022
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40441XQM5

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