By William Gullotti
Buffalo, N.Y., May 18 – HSBC USA Inc. priced $1 million of 0% autocallable barrier notes with step-up premium due May 18, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 9.53% annualized call premium if the index closes at or above its initial level on any semiannual observation date after one year.
If the notes are not called, the payout will be par unless the index has finished below its 90% barrier level, in which case investors will lose 1% for each 1% decline of the index 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 index: | Euro Stoxx 50 index
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| Amount: | $1 million
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| Maturity: | May 18, 2028
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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 barrier level, in which case investors will lose 1% for each 1% decline from initial level
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| Call: | At par plus a 9.53% annualized call premium if the index closes at or above its initial level on any semiannual observation date after one year
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| Initial index level: | 4,316.41
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| Barrier level: | 3,884.769; 90% of initial level
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AAQ7
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