New Issue: HSBC prices $3 million digital notes tied to four emerging markets currencies

By Wendy Van Sickle

Columbus, Ohio, June 6 – HSBC USA Inc. priced $3 million of 0% digital notes due June 1, 2021 linked to a basket of four currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket is made up of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi, each relative to the dollar and each with an equal weight.

If the basket return is positive, the payout at maturity will be par plus 26.8%.

Otherwise the payout will be par.

HSBC Securities (USA) Inc. is the agent with JPMorgan as placement agent.

Issuer:	HSBC USA Inc.
Issue:	Digital notes
Underlying basket:	Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, each relative to the dollar and each with 25% weight
Amount:	$3 million
Maturity:	June 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If basket finishes above initial level, par plus 26.8%; otherwise, par
Initial spot rate:	3.6587 for real, 61.628 for ruble, 68.26 for rupee, 6.3815 for renminbi
Pricing date:	May 25
Settlement date:	May 31
Agent:	HSBC Securities (USA) Inc. with JPMorgan as placement agent
Fees:	2%
Cusip:	40435FF69

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