HSBC plans to price autocallable notes with step-up premium and digital upside return on S&P

By Emma Trincal

New York, June 28 – HSBC USA Inc. plans to price 0% autocallable barrier notes with step-up premium and digital upside return due June 30, 2028 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index closes at or above its initial level on any annual valuation date, the notes will be called at par plus an annualized call premium of 9%.

If the index finishes above 25% of its initial level, the payout will be par plus the index return.

If the index finishes above its initial level but less than or equal to 25%, the return will be a digital payout of par plus 25%.

If the index finishes negative the payout at maturity will be par unless the index has finished below its 75% barrier level, in which case investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. is the agent

The notes were expected to price on June 27 and to settle on June 30.

The Cusip number is 40447ADH4.

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