HSBC plans to price autocallable barrier notes with step-up premium on index, ETF

By Emma Trincal

New York, Feb. 24 – HSBC USA Inc. plans to price 0% autocallable barrier notes with step-up premium due March 23, 2026 linked to the lesser performing of the iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a minimum 12.25% annualized call premium if each underlying closes at or above its initial level on any annual observation date.

If the notes are not called, the payout will be par unless any underlying has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing underlying from its initial level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on March 18 and settle on March 23.

The Cusip number is 40439JC86.

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