HSBC plans autocallable market plus notes linked to S&P 500

By Emma Trincal

New York, Sept. 21 – HSBC USA Inc. plans to price 0% autocallable market plus notes due Sept. 27, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 9.4% if the final level of the index is equal to or above the initial level on Oct. 7, 2022.

If not called, the payout at maturity will be par plus 200% of the index return if the final level of the index is at or above its initial price.

The payout will be par if the final level of the index declines by up to 15% of it is initial level.

If the index declines by more than 15%, investors will be fully exposed to losses.

The final level will be the average of the index closing prices of the five trading days preceding the maturity date.

HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

The notes will price on Sept. 24 and settle on Sept. 29.

The Cusip number is 40439JNA9.

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