HSBC to price buffered autocallable yield notes tied to S&P, Russell

By Sarah Lizee

Olympia, Wash., April 12 – HSBC USA Inc. plans to price 0% buffered autocallable yield notes due April 29, 2024 linked to 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 semiannually at par plus a 9.25% annualized premium if each index closes at or above its initial level on an annual call observation date.

If the notes are not called, the payout at maturity will be par unless either index drops by more than 20%, in which case investors will lose 1% for each 1% that the lesser performing index declines beyond 20%.

HSBC Securities (USA) Inc. is the agent

The notes will price on April 24.

The Cusip number is 40435ULR3.

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