By William Gullotti
Buffalo, N.Y., Nov. 18 – HSBC USA Inc. priced $5.52 million of 0% autocallable buffered notes with step-up premium due Nov. 22, 2027 linked 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 a 13% annualized call premium if the index closes at or above its initial level on any quarterly observation date starting Feb. 16, 2024.
If the notes are not called, the payout will be par unless the index has finished below its 90% buffer level, in which case investors will lose 1% for each 1% decline of the index beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable buffered notes with step-up premium
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| Underlying index: | S&P 500 index
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| Amount: | $5.52 million
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| Maturity: | Nov. 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below buffer level, in which case investors will lose 1% for each 1% decline beyond 10%
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| Call: | At par plus a 13% annualized call premium if the index closes at or above its initial level on any quarterly observation date starting Feb. 16, 2024
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| Initial index level: | 3,958.79
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| Buffer level: | 90% of initial level
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.6%
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| Cusip: | 40441XUV0
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