HSBC to price autocallable barrier notes on S&P 500, Russell 2000

By Marisa Wong

Morgantown, W.Va., Nov. 8 – HSBC USA Inc. plans to price autocallable barrier notes with contingent return due Nov. 23, 2021 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 6.5% if each index closes at or above its coupon trigger, 70% of the initial level, on a quarterly observation date.

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

The payout at maturity will be par plus the contingent coupon unless either index finishes below the 70% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Nov. 18.

The Cusip number is 40433UZR0.

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