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HSBC plans step-down trigger autocallables tied to S&P 500, Russell
By Susanna Moon
Chicago, Jan. 23 – HSBC USA Inc. plans to price 0% step-down trigger autocallable notes due Jan. 31, 2023 linked to the lesser performing of 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 of $10 plus an annual call premium of 7% to 7.5% if each index closes at or above its initial level on any of the first four observation dates after one year or at the 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of the worse performing index with full exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Jan. 29 and settle on Jan. 31.
The Cusip number is 40435J414.
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