New Issue: HSBC prices $3.96 million step down trigger autocalls on Dow, Russell

By Wendy Van Sickle

Columbus, Ohio, Oct. 22 HSBC USA Inc. priced $3.96 million of 0% step down trigger autocallable notes due Oct. 17, 2023 linked to the least performing of the Dow Jones industrial average 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 9.1% if each index closes at or above its initial level on any annual review date after one year or at or above its 75% downside threshold on the final 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.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Step down trigger autocallable notes
Underlying indexes:	Dow Jones industrial average and Russell 2000 index
Amount:	$3,964,000
Maturity:	Oct. 17, 2023
Price:	Par of $10
Payout at maturity:	Par plus return with 1% loss per 1% decline of worse performing index
Call:	At par plus 9.1% per year if index closes at or above its initial level on any annual review date beginning in Oct. 21, 2019 or above 75% downside threshold on final date
Initial levels:	25,339.99 for Dow and 1,546.679 for Russell
Downside thresholds:	19,004.99 for Dow and 1,160.009 for Russell, 75% of initial levels
Pricing date:	Oct. 12
Settlement date:	Oct. 17
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40436A305

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