New Issue: HSBC prices $2.28 million autocallable barrier notes with step-up premium on indexes

Chicago, April 13 – HSBC USA Inc. priced $2.28 million of 0% autocallable barrier notes with step-up premium due April 13, 2028 linked to the least performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically starting on July 10, 2023 and on any subsequent quarterly observation date with a 10% annualized call premium if both indexes close above their initial levels.

If not called, the payout at maturity will be par if the worst performing index finishes at or above its 75% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$2,283,000
Maturity:	April 13, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If not called and worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
Call:	Automatically at par plus 10% annualized premium starting on July 10, 2023 and on any subsequent quarterly observation date if both indexes close above initial levels
Initial levels:	1,772.443 for Russell, 4,109.11 for S&P
Barrier levels:	1,329.33225 for Russell, 3,081.8325 for S&P, 75% of initial levels
Pricing date:	April 10
Settlement date:	April 13
Agent:	HSBC Securities (USA) Inc.
Fees:	2.85%
Cusip:	40441X4R8

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