New Issue: HSBC sells $850,000 autocallable barrier notes linked to S&P, Russell

By Kiku Steinfeld

Chicago, Sept. 21 – HSBC USA Inc. priced $850,000 of 0% autocallable barrier notes with step-up premium and final call premium feature due Sept. 15, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if each index closes at or above its initial level on any semiannual observation date after one year. The call premium is 7.82% per year.

The payout will be par plus the 39.1% final call premium unless any index has finished below its 80% 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.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium and final call premium
Underlying indexes:	S&P 500, Russell 2000
Amount:	$850,000
Maturity:	Sept. 15, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 39.1% unless either index has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
Call:	At par plus a call premium if each index closes at or above its initial level on any semiannual observation date after one year; call premium is 7.82% per year
Initial index levels:	3,398.96 for S&P, 1,526.480 for Russell
Barrier levels:	80% of initial levels
Pricing date:	Sept. 9
Settlement date:	Sept. 14
Agent:	HSBC Securities (USA) Inc.
Fees:	0.55%
Cusip:	40438CWD9

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