New Issue: HSBC sells $420,000 autocallable barrier notes with step-up premium on index, ETF

By William Gullotti

Buffalo, N.Y., June 23 – HSBC USA Inc. priced $420,000 of 0% autocallable barrier notes with step-up premium due Dec. 23, 2024 linked to the S&P 500 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized 12.25% call premium if each underlier closes at or above initial level on any semiannual call observation date.

If the notes are not called, the payout will be par unless either underlier falls below 70% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying assets:	S&P 500 index, VanEck Vectors Gold Miners ETF
Amount:	$420,000
Maturity:	Dec. 23, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the notes are not called, par unless either underlier falls below 70% of its initial level, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level
Call:	At par plus an annualized 12.25% call premium if each underlier closes at or above initial level on any semiannual call observation date
Initial levels:	4,668.67 for index, $31.19 for ETF
Barrier levels:	3,268.069 for index, $21.833 for ETF; 70% of initial levels
Pricing date:	Dec. 16, 2021
Settlement date:	Dec. 21, 2021
Underwriter:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40439JUH6

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