HSBC to price autocallable barrier notes on Stoxx, iShares MSCI EM

By Sarah Lizee

Olympia, Wash., Jan. 7 – HSBC USA Inc. plans to price autocallable barrier notes with step-down call threshold feature due Jan. 25, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 10.5% to 11.5% per year if each underlying closes at or above its call level on any annual observation date. The exact premium will be set at pricing.

The call level will be 100% of the initial level on the first three observation dates, then 70% of the initial level on the final observation date.

The payout at maturity will be par unless either underlying falls by more than 30%, in which case investors will be fully exposed to the decline of the lesser performing asset.

HSBC Securities (USA) Inc. is the agent.

The notes are expected to price on Jan. 18.

The Cusip number is 40435UCS1.

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