By Kiku Steinfeld
Chicago, March 16 – HSBC USA Inc. priced $1.35 million of 0% autocallable barrier notes with step-up premium due Sept. 22, 2025 linked to the lesser performing of the iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 9.75%.
If each underlier finishes at or above its initial level, the payout at maturity will be par plus the 39% premium applicable to the final valuation date.
If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing underlier from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-up premium
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| Underlying assets: | iShares MSCI Emerging Markets ETF and Russell 2000 index
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| Amount: | $1,351,000
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| Maturity: | Sept. 22, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 39% unless any underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of least performing underlier from its initial level
|
| Call: | At par plus 9.75%annualized call premium if underlier closes at or above initial level on any annual observation date
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| Initial levels: | $51.37 for iShares Emerging Markets ETF, 2,236.871 for Russell 2000
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| Barrier levels: | $35.959 for iShares Emerging Markets ETF, 1,565.8097 for Russell 2000; 70% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2%
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| Cusip: | 40439JKQ7
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