HSBC plans 5% contingent return autocalls tied to Russell, S&P 500

By Susanna Moon

Chicago, July 11 – HSBC USA Inc. plans to price autocallable barrier notes with contingent return due Aug. 2, 2021 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 pay a contingent quarterly coupon at an annualized rate of at least 5% if each underlying index closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes will be called at par f each asset closes at or above its initial level on any review date after six months.

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 underwriter.

The notes will price on July 26 and settle on July 31.

The Cusip number is 40435FP76.

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