New Issue: HSBC prices $2.47 million autocallable barrier notes linked to Russell, S&P

By Kiku Steinfeld

Chicago, Dec. 17 – HSBC USA Inc. priced $2.47 million of 0% autocallable barrier notes due Nov. 27, 2026 linked to 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 10.7% per year if each index closes at or above its initial level on any annual observation date.

The payout will be par unless any index finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$2,471,000
Maturity:	Nov. 27, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par if each index par if each index closes at or above barrier level; otherwise, 1% loss for every 1% that lesser-performing index’s final level is less than initial level
Call:	Automatically at par plus call premium of 10.7% per year if each index closes at or above initial level on any annual observation date
Initial levels:	3,110.29 for S&P 500 and 1,588.943 for Russell 2000
Barrier levels:	2,177.203 for S&P 500 and 1,112.2601 for Russell 2000, or 70% of initial levels
Pricing date:	Nov. 22
Settlement date:	Nov. 27
Underwriter:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40435UL44

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