New Issue: HSBC prices $17.52 million trigger autocallable notes on S&P 500

By William Gullotti

Buffalo, N.Y., Nov. 12 – HSBC USA Inc. priced $17.52 million of 0% trigger autocallable notes due Nov. 2, 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 7.65% per year if the index closes at or above its initial level on any quarterly observation date after six months.

If the index finishes at or above its initial level, the notes will be called at maturity at par plus 15.3%.

If the index declines but finishes at or above the downside threshold, 80% of the initial level, the payout at maturity will be par. Otherwise, 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:	$17,517,690
Maturity:	Nov. 2, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes at or above its initial level, the notes will be called at par plus 15.3%; if the index declines but not below downside threshold, par; otherwise, 1% loss for each 1% decline of index from initial level
Call:	After six months, at par plus 7.65% per year if index closes at or above initial level on any quarterly observation date
Initial level:	4,605.38
Downside threshold:	3,684.304; 80% of initial level
Pricing date:	Oct. 29
Settlement date:	Nov. 3
Agents:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	1.5%
Cusip:	40390L800

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