New Issue: HSBC prices $3.52 million 7% yield autocalls tied to S&P 500, Russell

By Susanna Moon

Chicago, May 17 – HSBC USA Inc. priced $3.52 million of 7% autocallable yield notes due Aug. 5, 2019 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 monthly.

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 70% 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:	$3,516,000
Maturity:	Aug. 5, 2019
Coupon:	7%, payable monthly
Price:	Par
Payout at maturity:	Par unless either index falls below 70% 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 Oct. 31, 2018
Initial levels:	1,541.884 for Russell and 2,648.05 for S&P
Barrier levels:	1,079.3188 for Russell and 1,853.635 for S&P; 70% of initial levels
Pricing date:	April 30
Settlement date:	May 3
Agent:	HSBC Securities (USA) Inc.
Fees:	0.375%
Cusip:	40435FYE1

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