New Issue: HSBC prices $508,000 autocallable barrier notes with step-up premium on indexes

By Kiku Steinfeld

Chicago, Sept. 13 – HSBC USA Inc. priced $508,000 of 0% autocallable barrier notes with step-up premium due March 8, 2027 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 11.6% per year if each index closes at or above its initial level on any annual observation date.

The payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$508,000
Maturity:	March 8, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index finishes at or above barrier level, par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
Initial levels:	1,898.433 for Russell, 3,951.39 for S&P
Barrier levels:	1,328.9031 for Russell, 2,765.973 for S&P, 70% of initial level
Call:	Automatically at par plus a premium of 11.6% per year if each index closes at or above its initial level on any annual observation date
Pricing date:	March 1, 2023
Settlement date:	March 6, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40441XR69

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