HSBC plans to issue autocallable barrier notes with step-up premium on three indexes

By Emma Trincal

New York, Aug. 26 – HSBC USA Inc. plans to issue 0% autocallable barrier notes with a step-up premium due Sept. 2, 2025 linked to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a 13.3% annual call premium if each index closes at or above its initial level on any semiannual observation date.

If the notes are not called, the payout will be par unless any index has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

HSBC Securities (USA) Inc. is the agent.

The notes were expected to price on Aug. 26 and to settle on Aug. 31.

The Cusip number is 40441XFX3.

The fee is 2.5%.

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