New Issue: HSBC sells $1.13 million digital dual directional barrier notes on S&P 500, Russell

By Susanna Moon

Chicago, Nov. 7 – HSBC USA Inc. priced $1.13 million of 0% digital dual directional barrier securities due Oct. 31, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If each index finishes at or above its 70% barrier level, the payout will be par plus the greater of the return of the worse performing index and the digital upside return of 25%.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital dual directional barrier securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$1,127,000
Maturity:	Oct. 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above barrier level, par plus greater of return of worse performing index and 25%; otherwise, 1% loss per 1% drop of worse performing index
Initial levels:	2,658.69 for S&P and 1,483.821 for Russell
Barrier levels:	1,861.08 for S&P and 1,861.08 for Russell, 70% of initial levels
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	HSBC Securities (USA) Inc.
Fees:	3.75%
Cusip:	40435F3Z8

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