By Wendy Van Sickle
Columbus, Ohio, June 7 – HSBC USA Inc. priced $10 million of 0% autocallable barrier notes with step-up premium due June 3, 2024 linked to the lesser performing of the Russell 2000 index and the Invesco QQQ trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if each asset closes at or above its initial level on any quarterly observation date after one year. The premium is 9% per year.
If the notes are not called, the payout will be par unless any asset has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing asset from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-up premium
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| Underlying assets: | Russell 2000 index and Invesco QQQ trust, series 1
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| Amount: | $10 million
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| Maturity: | June 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless either asset has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing asset from its initial level
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| Call: | At par plus a call premium if each asset closes at or above its initial level on any quarterly observation date after one year; premium is 9% per year
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| Initial asset levels: | 4,204.11 for index , $333.93 for ETF
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| Barrier levels: | 70% of initial levels
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| Pricing date: | May 28
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| Settlement date: | June 3
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.45%
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| Cusip: | 40439JBQ7
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