New Issue: HSBC sells $2.31 million step-down trigger autocallables on Russell, Nasdaq

By Sarah Lizee

Olympia, Wash., May 14 – HSBC USA Inc. priced $2.31 million of 0% step-down trigger autocallable notes due May 15, 2024 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call return of 8.1% per year if each index closes at or above its initial level on any of the first 16 quarterly observation dates or if each index closes at or above its 70% downside threshold level on the final valuation date.

If the notes are not called, investors will lose 1% for each 1% decline of the worst performing index from its initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Step-down trigger autocallable notes
Underlying indexes:	Russell 2000 and Nasdaq-100
Amount:	$2,311,440
Maturity:	May 15, 2024
Coupon:	0%
Price:	Par of $10
Call:	At par plus 8.1% per year if each index closes at or above initial level on any of first 16 quarterly observation dates or if each index closes at or above downside threshold on final valuation date
Payout at maturity:	1% loss for each 1% decline of the worst performing index from initial level
Initial levels:	1,572.993 for Russell, 7,586.531 for Nasdaq-100
Downside thresholds:	1,101.095 for Russell, 5,310.572 for Nasdaq-100; 70% of initial levels
Pricing date:	May 10
Settlement date:	May 15
Agent:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2.5%
Cusip:	40436B774

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