HSBC to price trigger autocallable optimization notes on Russell 2000

By Devika Patel

Knoxville, Tenn., Feb. 18 – HSBC USA Inc. plans to price 0% trigger autocallable optimization securities due Feb. 26, 2021 linked to the Russell 2000 index, according to an FWP filed with the Securities and Exchange Commission.

After one year, the notes will be called at par of $10 plus a call return of 9% per year if the index closes at or above the initial level on any quarterly observation date.

If the notes are not called and the index finishes at or above the trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial level. The trigger level will be 56% to 62% of the initial index level. The exact level will be set at pricing.

HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is acting as agent.

The notes (Cusip: 40434N739) will price on Feb. 25 and settle Feb. 29.

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