New Issue: HSBC sells $1.14 million barrier autocalls with step-up premium on Global Clean Energy

By Kiku Steinfeld

Chicago, March 16 – HSBC USA Inc. priced $1.14 million of 0% autocallable barrier notes with step-up premium due March 4, 2024 linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if the fund closes at or above its initial level on any semiannual call observation date. The call premium is 20.5% per year.

If the notes are not called and the fund finishes at or above its 60% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the fund.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying fund:	iShares Global Clean Energy ETF
Amount:	$1,141,000
Maturity:	March 4, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If not called and fund finishes at or above its 60% barrier level, par; otherwise, full exposure to losses
Call:	At par plus a call premium of 20.5% per year if fund closes at or above its initial level on any semiannual call date
Initial fund level:	$25.85
Barrier level:	$15.51, 60% of initial level
Pricing date:	Feb. 26
Settlement date:	March 3
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40438CX30

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