New Issue: HSBC sells $422,000 autocallable barrier notes with step-up premium on index, ETF

By Kiku Steinfeld

Chicago, April 19 – HSBC USA Inc. priced $422,000 of 0% autocallable barrier notes with step-up premium due Dec. 28, 2026 linked to the performance of the Financial Select Sector SPDR Fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual 15.25% call premium if each underlier closes at or above its initial level on any annual valuation date.

If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying assets:	Financial Select Sector SPDR Fund, Russell 2000 index
Amount:	$422,000
Maturity:	Dec. 28, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of worst performer from its initial level
Call:	At par plus an annual 15.25% call premium if each underlier closes at or above its initial level on any annual valuation date
Initial asset levels:	$34.06 for ETF, 1,776.941for Russell
Barrier levels:	$23.842 for ETF, 1,243.8587 for Russell; 70% of initial levels
Pricing date:	Dec. 21
Settlement date:	Dec. 27
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40441XXQ8

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