New Issue: HSBC sells $3.59 million step-down trigger autocallables on Dow, Nasdaq

By Sarah Lizee

Olympia, Wash., Dec. 18 – HSBC USA Inc. priced $3.59 million of 0% step-down trigger autocallable notes due Dec. 19, 2023 linked to the Dow Jones Industrial Average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call return of 9.5% per year if each index closes at or above its initial level on any of the first four annual observation dates or if each index closes at or above its 70% downside threshold level on the final valuation date.

If the notes are not called, investors will lose 1% for each 1% decline of the worst performing index from its initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Step-down trigger autocallable notes
Underlying indexes:	Dow Jones Industrial Average and Nasdaq-100
Amount:	$3,594,000
Maturity:	Dec. 19, 2023
Coupon:	0%
Price:	Par of $10
Call:	At par plus 9.5% per year if each index closes at or above initial level on any of first four annual observation dates or if each index closes at or above downside threshold on final valuation date
Payout at maturity:	1% loss for each 1% decline of the worst performing index from initial level
Initial levels:	24,100.51 for Dow, 6,594.963 for Nasdaq-100
Downside thresholds:	16,870.36 for Dow, 4,616.474 for Nasdaq-100; 70% of initial levels
Pricing date:	Dec. 14
Settlement date:	Dec. 19
Agent:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	40436A636

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