New Issue: HSBC prices $8.08 million step down trigger autocallables tied to S&P, Euro Stoxx

By Devika Patel

Knoxville, Tenn., Dec. 24 – HSBC USA Inc. priced $8,075,140 of 0% step down trigger autocallable notes due Dec. 10, 2024 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus 10.8% per year if each index closes at or above its initial level on any quarterly observation date or they all close at or above the 75% downside threshold on Dec. 5, 2024.

If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold and investors will be exposed to the decline of the lesser-performing index from its initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Step down trigger autocallable notes
Underlying indexes:	S&P 500 and Euro Stoxx 50
Amount:	$8,075,140
Maturity:	Dec. 10, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Full exposure to decline of lesser-performing index from initial level
Call:	At par plus 10.8% per year if each index closes at or above its initial level on any quarterly observation date or each closes at or above downside threshold on Dec. 5, 2024
Initial index levels:	3,117.43 for S&P and 3,648.13 for Stoxx
Downside thresholds:	2,338.07 for S&P and 2,736.10 for Stoxx; 75% of initial levels
Pricing date:	Dec. 5
Settlement date:	Dec. 10
Underwriters:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40438B418

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