New Issue: HSBC prices $5.09 million autocallable barrier notes with step-up premium on two indexes

New York, April 19 – HSBC USA Inc. priced $5.09 million of 0% autocallable barrier notes with step-up premium due April 9, 2029 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called automatically at a premium of 9.55% per year if the closing level of the worst performing index is greater than or equal to its initial level on any annual observation date.

If the notes are not called, the payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$5,086,000
Maturity:	April 9, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performing index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
Initial levels:	2,076.203 for Russell 2000, 5,211.49 for S&P 500
Barrier levels:	1,453.3421 for Russell 2000, 3,648.043 for S&P 500, 70% of initial level
Call:	Automatically starting on April 4, 2025 if the level of the worst performing index is greater than or equal to its initial level on any annual observation date at a premium of 9.55% per year
Pricing date:	April 3
Settlement date:	April 8
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40447AN75

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