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HSBC plans five-year step down trigger autocallables on Russell, S&P
New York, June 7 – HSBC USA Inc. plans to price 0% step down trigger autocallable notes due June 30, 2023 linked to the lesser performing of 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 called at par of $10 plus an annual call premium of 8.5% to 9.5% if either index closes at or above its initial level on any of four annual review dates or if either index finishes at or above its 75% downside threshold on the final valuation date.
If the notes are not called, the payout will be par plus the return of the worse performing index with 1% loss for each 1% decline.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes will price on June 27 and settle on June 29.
The Cusip number is 40435X405.
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