HSBC plans to price autocallable barrier notes with step-up premium on indexes

By Emma Trincal

New York, March 1 – HSBC USA Inc. plans to price 0% autocallable barrier notes with step-up premium due March 24, 2026 linked to the least performing of the S&P 500 index, the Russell 2000 index, and the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if each index closes at or above its initial level on any semiannual observation date after one year. The premium is 11.3% per year.

If the notes are not called, the payout will be par unless any index has finished below its 75% barrier 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.

The notes will price on March 19 and settle on March 24.

The Cusip number is 40438C3D1.

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