New Issue: HSBC sells $1.02 million step-down trigger autocallables on Russell, Nasdaq

By Sarah Lizee

Olympia, Wash., Sept. 18 – HSBC USA Inc. priced $1.02 million of 0% step-down trigger autocallable notes due Sept. 18, 2024 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call return of 8.55% per year if each index closes at or above its initial level on any of the first 16 quarterly observation dates or if each index closes at or above its 75% downside threshold level on the final valuation date.

If the notes are not called, investors will lose 1% for each 1% decline of the worst performing index from its initial level.

HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Step-down trigger autocallable notes
Underlying indexes:	Russell 2000 and Nasdaq-100
Amount:	$1.02 million
Maturity:	Sept. 18, 2024
Coupon:	0%
Price:	Par of $10
Call:	At par plus 8.55% per year if each index closes at or above initial level on any of first 16 quarterly observation dates or if each index closes at or above downside threshold on final valuation date
Payout at maturity:	1% loss for each 1% decline of the worst performing index from initial level
Initial levels:	1,578.138 for Russell, 7,892.955 for Nasdaq-100
Downside thresholds:	1,183.604 for Russell, 5,919.716 for Nasdaq-100; 75% of initial levels
Pricing date:	Sept. 13
Settlement date:	Sept. 18
Agent:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	40438B400

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