HSBC to price autocallable return notes linked to Euro Stoxx

By Sarah Lizee

Olympia, Wash., July 25 – HSBC USA Inc. plans to price 0% autocallable return notes due July 29, 2024 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called if the index closes at or above its initial level on any semiannual observation date beginning Aug. 7, 2020. The redemption price is par plus a call premium of 10.3%.

If the notes are not called, the payout at maturity will be par unless the index finishes below the 70% trigger level, in which case investors will be fully exposed to the decline.

HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price on July 26.

The Cusip number is 40435UUP7.

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