HSBC plans step-down trigger autocallables tied to S&P 500, Russell

By Susanna Moon

Chicago, Feb. 21 – HSBC USA Inc. plans to price 0% step-down trigger autocallable notes due Feb. 28, 2022 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 at par plus a call return of 7.7% to 8.7% if each index closes at or above its initial level on an annual observation date or at or above its 70% downside threshold on the final valuation date.

The payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.

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

The notes will price on Feb. 24 and settle on Feb. 28.

The Cusip number is 40435H509.

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