New Issue: HSBC sells $633,000 autocallable barrier notes with step-up premium on indexes

By Wendy Van Sickle

Columbus, Ohio, Oct. 2 – HSBC USA Inc. priced $633,000 of 0% autocallable barrier notes with step-up premium due Sept. 29, 2023 linked to the lesser performing of Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

Beginning March 24, 2021, the notes will be called at par plus a call premium if each index closes at or above the initial level on any semiannual observation date. The call premium is 15.72% per year.

The payout will be par unless any index has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying indexes:	Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
Amount:	$633,000
Maturity:	Sept. 29, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any index has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
Call:	At par plus a call premium of 15.72% per year if each index closes at or above initial level on any semiannual observation date
Initial levels:	10,896.47 for Nasdaq, 26,815.44 for Dow, 1,451.819 for Russell 2000
Barrier values:	70% of initial levels
Pricing date:	Sept. 24
Settlement date:	Sept. 29
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40438CWY3

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