By Kiku Steinfeld
Chicago, April 18 – HSBC USA Inc. priced $1 million of 0% autocallable barrier notes with step-up premium and digital upside return due Sept. 30, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 8% annual call premium if the index closes at or above its initial level on any annual call observation date.
If the notes are not called and the index return is greater than 25%, the payout at maturity will be par plus the index return. If the index return is greater than zero but less than or equal to 25%, investors will receive par plus 25%. If the index return is less than or equal to zero but greater than or equal to negative 25%, the payout will be par. If the index return is less than negative 25%, investors will be fully exposed to the decline of the index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-up premium and digital upside return
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| Underlying index: | Russell 2000 index
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| Amount: | $1 million
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| Maturity: | Sept. 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is greater than 25%, par plus index return; if index return is greater than zero but less than or equal to 25%, par plus 25%; if index return is less than or equal to zero but greater than or equal to negative 25%, par; if index return is less than negative 25%, full exposure to decline of index
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| Call: | At par plus a call premium of 8% per year if index closes at or above its initial level on any annual call date
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| Initial index level: | 2,281.003
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.35%
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| Cusip: | 40439JNE1
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