HSBC to issue autocallable barrier notes with step-up premium on indexes

New York, April 26 – HSBC USA Inc. plans to issue 0% autocallable barrier notes with step-up premium due April 27, 2026 linked to the lesser performing of the Euro Stoxx 50 index 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 call premium if each index closes at or above its initial level on any annual observation date. The premium is at least 15.3% per year.

If the notes are not called, meaning all indexes have finished below their initial levels, the payout will be par unless any index has finished below its 70% 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.

The notes were expected to price on April 22 and to settle on April 27.

The Cusip number is 40439JT47.

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