New Issue: HSBC sells $123,000 autocallable barrier notes with step-up premium on S&P, gold ETF

By Kiku Steinfeld

Chicago, June 3 – HSBC USA Inc. priced $123,000 of 0% autocallable barrier notes with step-up premium due Nov. 4, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized 15% call premium if each underlier closes at or above its initial level on any semiannual observation date starting April 29, 2022.

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 least-performing asset 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:	VanEck Vectors Gold Miners ETF, S&P 500 index
Amount:	$123,000
Maturity:	Nov. 4, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless either underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing asset from its initial level
Call:	At par plus an annual 15% call premium if each underlier closes at or above its initial level on any semiannual observation date starting April 29, 2022
Initial asset levels:	$31.71 for ETF, 4,605.38 for S&P
Barrier levels:	$22.197 for ETF, 3,223.766 for S&P; 70% of initial levels
Pricing date:	Oct. 29, 2021
Settlement date:	Nov. 3, 2021
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40439JPB5

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