New Issue: HSBC prices $327,000 autocallable barrier notes with step-up premium on indexes

By Kiku Steinfeld

Chicago, Oct. 12 – HSBC USA Inc. priced $327,000 of 0% autocallable barrier notes with step-up premium due March 29, 2027 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically on any annual observation date at a premium of 11.45% per year if each index closes at or above 105% of its initial level.

The payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying indexes:	Dow Jones industrial average and S&P 500 index
Amount:	$327,000
Maturity:	March 29, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
Initial levels:	32,237.53 for Dow Jones industrial average, 3,970.99 for S&P 500
Barrier levels:	22,566.271 for Dow Jones industrial average, 2,779.693 for S&P 500, 70% of initial level
Call:	Automatically on any annual observation date at a premium of 11.45% per year if each index closes at or above 105% of its initial level
Pricing date:	March 24, 2023
Settlement date:	March 29, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40441XX54

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