New Issue: HSBC sells $4.35 milion autocallable buffered notes with step-up premium on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, Aug. 1 – HSBC USA Inc. priced $4.35 milion of 0% autocallable buffered notes with step-up premium due Jan. 27, 2025 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a 11% annualized premium if the indexes close at or above their initial level on any semiannual observation date.

If the notes are not called, the payout will be par unless either index falls below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable buffered notes with step-up premium
Underlying index:	S&P 500 index and Russell 2000 index
Amount:	$4,353,000
Maturity:	Jan. 27, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the notes are not called, par unless either index falls below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the lesser performing index beyond buffer
Call:	At par plus 11% annualized premium if each index closes at or above its initial level on any semiannual observation date
Initial levels:	1,960.255 for Russell, 4,536.34 for S&P
Buffer levels:	1,568.204 for Russell, 3,629.072 for S&P, 80% of initial levels
Pricing date:	July 21
Settlement date:	July 27
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40447AGV0

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