New Issue: HSBC prices $6.17 million step down trigger autocalls on S&P, Nasdaq

By William Gullotti

Buffalo, N.Y., April 8 – HSBC USA Inc. priced $6.17 million of 0% step down trigger autocallable notes due March 29, 2029 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an 8.15% annualized premium if each index closes at or above its initial level on any quarterly review date after one year.

If all indexes finish at or above the 75% step down threshold, the payout at maturity will be par plus 40.75%.

Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Step down trigger autocallable notes
Underlying indexes:	S&P 500 index, Nasdaq-100 index
Amount:	$6,172,070
Maturity:	March 29, 2029
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If each index finishes at or above step down threshold, par plus 40.75%; otherwise, lose 1% for each 1% decline of worst performing index from its initial level
Call:	At par plus an 8.15% annualized premium if each index closes at or above its initial level on any quarterly review date after one year
Initial index levels:	5,203.58 for S&P, 18,210.54 for Nasdaq
Step down thresholds:	3,902.69 for S&P, 13,657.91 for Nasdaq; 75% of initial levels
Pricing date:	March 26
Settlement date:	March 28
Agents:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	40438G755

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