New Issue: HSBC sells $1.09 million autocallable barrier notes with step-up premium on indexes

By Wendy Van Sickle

Columbus, Ohio, Jan. 5 – HSBC USA Inc. priced $1.09 million of 0% autocallable barrier notes with step-up premium due Dec. 26, 2023 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of 12% if each index closes at or above its initial level on any semiannual observation date.

If the notes are not called, but the worst performer finishes above 70% of its initial level, the payout will be par. If any index has finished below its 70% barrier level, 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:	S&P 500 index, Russell 2000 index, Nasdaq-100 index
Amount:	$1,091,000
Maturity:	Dec. 26, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If not called and worst performer finishes above barrier level, par; otherwise, investors will lose 1% for each 1% decline of least-performing index from its initial level
Call:	At par plus annualized 12% annual call premium if each index closes at or above initial level on any semiannual observation date
Initial index levels:	12,738.18 for Nasdaq, 3,709.41 for S&P, 1,969.986 for Russell
Barrier levels:	70% of initial levels
Pricing date:	Dec. 18
Settlement date:	Dec. 23
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40438CH53

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