HSBC plans step down trigger autocalls tied to Dow Jones, Russell

By Sarah Lizee

Olympia, Wash., Oct. 11 – HSBC USA Inc. plans to price 0% step down trigger autocallable notes due Oct. 17, 2023 linked to the least performing of the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par of $10 plus an annual call premium of 7.5% to 8.5% if each index closes at or above its initial level on any annual review date or at or above its 75% downside threshold on the final date.

If the notes are not called, the payout at maturity will be par plus the return of the worse performing index with full exposure to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes will price on Oct. 12.

The Cusip number is 40436A305.

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