HSBC to price callable barrier notes with contingent return on Russell

By Tali Rackner

Minneapolis, Aug. 18 – HSBC USA Inc. plans to price callable barrier notes with contingent return due Aug. 25, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a semiannual contingent coupon at an annualized rate of at least 10.25% if the index closes at or above its 83.5% coupon trigger on the related quarterly observation date.

The notes will be callable at par on any call date beginning Aug. 27, 2018.

The payout at maturity will be par plus the contingent coupon, if any, unless the index finishes below its 70% barrier level, in which case investors will be fully exposed to any decline.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Aug. 22 and settle on Aug. 25.

The Cusip number is 40435FEL7.

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