HSBC to price buffered autocallable yield notes tied to two ETFs

By Sarah Lizee

Olympia, Wash., Jan. 27 – HSBC USA Inc. plans to price 0% buffered autocallable yield notes due Feb. 6, 2023 linked to the iShares MSCI Emerging Markets ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 414B2 filing with the Securities and Exchange Commission.

The notes will be called semiannually at par plus a 16.5% annualized premium if each asset closes above 95% of its initial level on the observation date for that period.

If the notes are not called, the payout at maturity will be par unless either asset drops by more than 20%, in which case investors will lose 1% for each 1% the lesser performing asset declines beyond 20%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Jan. 30.

The Cusip number is 40435U3J1.

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