By Wendy Van Sickle
Columbus, Ohio, Feb. 29 – HSBC USA Inc. priced $1.12 million of 0% barrier participation notes with autocall feature due March 2, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 11.15% if the worst performing index closes at or above its initial level on Feb. 26, 2025.
If the notes are not called and the worst performing index finishes above its initial level, the payout at maturity will be par plus 1.5 times the return of the worst performing index.
If the worst performing index finishes negative but at or above its 70% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Barrier participation notes with autocall feature
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $1.12 million
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| Maturity: | March 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the worst performing index return is positive, par plus 1.5 times the index return; if worst-performing index’s final level is negative but at or greater than barrier level, par; otherwise, full exposure to the decline of the worst performing index from its initial level
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| Call: | At par plus 11.15% if worst performing index closes at or above initial level on Feb. 26, 2025
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| Initial levels: | 5,069.53 for S&P and 2,028.968 for Russell
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 27
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.775%
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| Cusip: | 40447AYJ7
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