New Issue: HSBC sells $2.01 million autocallable barrier notes with step-up premium on index, ETF

By William Gullotti

Buffalo, N.Y., Oct. 8 – HSBC USA Inc. priced $2.01 million of 0% autocallable barrier notes with step-up premium due July 28, 2025 linked to the performance of the iShares MSCI Emerging Markets ETF 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 annual 8.5% call premium if each underlier closes at or above its initial level on any quarterly observation date after six months.

If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying assets:	iShares MSCI Emerging Markets ETF, Russell 2000 index
Amount:	$2,012,000
Maturity:	July 28, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of worst performer from its initial level
Call:	At par plus an annual 8.5% call premium if each underlier closes at or above its initial level on any annual observation date
Initial asset levels:	$52.51 for ETF, 2,209.649 for Russell
Barrier levels:	$36.757 for ETF, 1,546.7543 for Russell; 70% of initial levels
Pricing date:	July 23
Settlement date:	July 28
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40439JFG5

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