HSBC to price step down trigger autocallables linked to three indexes

By Angela McDaniels

Tacoma, Wash., Aug. 23 – HSBC USA Inc. plans to price 0% step down trigger autocallable notes due Aug. 30, 2019 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par of $10 plus 8.9% if each index closes at or above its initial level on Aug. 27, 2018 or at par plus 17.8% if each index closes at or above its downside threshold, 75% of its initial level, on Aug. 26, 2019.

If the notes are not subject to an automatic call, then the final level of at least one index will be less than its downside threshold, and investors will be exposed to the decline of the least-performing index from its initial level.

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

The notes will price Aug. 24.

The Cusip number is 40435G519.

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