By Angela McDaniels
Tacoma, Wash., April 4 – HSBC USA Inc. priced $141,000 of 0% barrier participation notes with autocall feature due July 7, 2025 linked to the lesser 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 automatically called at par plus 12.85% if each index closes at or above its initial level on July 2, 2024.
If the notes are not called and the return of the lesser performing index is greater than or equal to zero, the payout at maturity will be par plus 200% of the lesser performing index’s return.
If the lesser performing index’s return is less than zero but greater than or equal to negative 30%, the payout will be par.
If the lesser performing index’s return is less than negative 30%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Barrier participation notes with autocall feature
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $141,000
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| Maturity: | July 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index’s return is greater than or equal to zero, par plus 200% of lesser performing index’s return; if lesser performing index’s return is less than zero but greater than or equal to negative 30%, par; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
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| Call: | Automatically at par plus 12.85% if each index closes at or above initial level on July 2, 2024
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| Initial levels: | 4,450.38 for S&P and 1,888.734 for Russell
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| Barrier levels: | 70% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40447ACE2
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