New Issue: HSBC sells $3.33 million step-down trigger autocalls on EM ETF, S&P

By Wendy Van Sickle

Columbus, Ohio, Aug. 12 – HSBC USA Inc. priced $3.33 million of 0% step-down trigger autocallable notes due Aug. 13, 2024 linked to the lowest performing of the iShares MSCI Emerging Markets ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call return of 10.55% per year if each asset closes at or above its initial level on any quarterly observation date or at or above its 60% downside threshold on the final valuation date.

If the notes are not called, investors will be fully exposed to any losses of the worse performing asset.

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

Issuer:	HSBC USA Inc.
Issue:	Step-down trigger autocallable notes
Underlying assets:	iShares MSCI Emerging Markets ETF, S&P 500 index
Amount:	$3.33 million
Maturity:	Aug. 13, 2024
Coupon:	0%
Price:	Par
Call:	At par plus a call return of 10.55% per year if each asset closes at or above its initial level on any quarterly observation date or at or above its downside threshold on the final valuation date
Payout at maturity:	Full exposure to any losses of the worse performing asset
Initial levels:	2,993.98 for S&P, $39.79 for EM
Downside thresholds:	2,018.79 for S&P, $27.85 for EM; 70% of initial levels
Pricing date:	Aug. 8
Settlement date:	Aug. 13
Distributor:	HSBC Securities (USA) INC. and UBS Financial Services Inc.
Fees:	0.75%
Cusip:	40436B246

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