HSBC plans contingent return barrier autocallables tied to index, fund

By Susanna Moon

Chicago, Feb. 8 – HSBC USA Inc. plans to price 0% autocallable barrier notes with contingent return due March 1, 2021 linked to the Russell 2000 index and the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

performing component.

The notes will be called at par plus an annualized call premium of 11% to 12% if each component closes at or above its initial level on any annual call date after one year.

The payout at maturity will be par plus a 10% contingent return unless either component finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse HSBC Securities (USA) Inc. is the agent.

The notes will price on Feb. 17 and settle on Feb. 27.

The Cusip number is 40433UN28.

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