New Issue: HSBC sells $39,000 of 7.5% yield autocallables tied to S&P 500, Russell

By Susanna Moon

Chicago, May 17 – HSBC USA Inc. priced $39,000 of 7.5% autocallable yield notes due May 3, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be called at par if each index closes at or above its initial level on any review date.

The payout at maturity will be par unless either index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable yield notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$39,000
Maturity:	May 3, 2021
Coupon:	7.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless either index falls below 75% trigger, in which case full exposure to any losses of worse performing index
Call:	At par if each index closes at or above initial level on any quarterly review date beginning Aug. 30, 2019
Initial levels:	1,541.884 for Russell and 2,648.05 for S&P
Barrier levels:	1,156.413 for Russell and 1,968.0375 for S&P; 75% of initial levels
Pricing date:	April 30
Settlement date:	May 3
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435FXT9

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