New Issue: HSBC prices $33.46 million trigger autocallable notes on Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Oct. 31 – HSBC USA Inc. priced $33.46 million of 0% trigger autocallable notes due Oct. 29, 2026 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus 11.4% per year if the index closes at or above its initial level on any quarterly observation date after one year.

If the index finishes at or above its initial level, the notes will be called at maturity at par plus 34.2%.

If the index declines but finishes at or above the downside threshold, 70% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.

HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Trigger autocallable notes
Underlying index:	Russell 2000 index
Amount:	$33,459,550
Maturity:	Oct. 29, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index finishes at or above its initial level, the notes will be called at par plus 34.2%; if the index declines but not below downside threshold, par; otherwise, 1% loss for each 1% decline of index from initial level
Call:	After one year, at par plus 11.4% per year if index closes at or above initial level on any quarterly observation date
Initial level:	1,651.428
Downside threshold:	1,156.0; 70% of initial level
Pricing date:	Oct. 25
Settlement date:	Oct. 31
Agents:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	40443B585

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