New Issue: HSBC sells $2.25 million autocallable barrier notes with contingent return on indexes

By Wendy Van Sickle

Columbus, Ohio, Feb. 21 – HSBC USA Inc. priced $2.25 million of 0% autocallable barrier notes with step-up premium and contingent return due March 8, 2023 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an 11.5% annualized call premium if each index closes at or above its initial level on any annual observation date.

The payout will be par plus 10% unless either index has finished below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium and contingent return
Underlying indexes:	S&P 500, Russell 2000
Amount:	$2,245,000
Maturity:	March 8, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 10%, unless either index has finished below trigger level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
Call:	At par plus 11.5% annualized call premium if each index closes at or above initial level on any annual observation date
Initial index levels:	2,775.6 for S&P, 1,569.247 for Russell
Triggers:	1,942.92 for S&P, 1,098.4729 for Russell; 70% of initial levels
Pricing date:	Feb. 15
Settlement date:	Feb. 22
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40435UES9

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