New Issue: HSBC prices $9.4 million trigger autocallable notes on S&P 500

By William Gullotti

Buffalo, N.Y., July 27 – HSBC USA Inc. priced $9.4 million of 0% trigger autocallable notes due July 27, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus 6.84% per year if the index closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless the index finishes below the downside threshold, 75% of the initial level, in which case investors will lose 1% for each 1% decline of the index from its initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Trigger autocallable notes
Underlying index:	S&P 500
Amount:	$9,399,800
Maturity:	July 27, 2023
Coupon:	0%
Price:	Par of $10
Call:	After six months, at par plus 6.84% per year if index closes at or above initial level on any quarterly observation date
Payout at maturity:	Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index from initial level
Initial level:	4,367.48
Downside threshold:	3,275.61; 75% of initial level
Pricing date:	July 22
Settlement date:	July 27
Agents:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	1.5%
Cusip:	40439K631

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