New Issue: HSBC sells $4.39 million autocallable barrier notes with step-up premium on index, ETF

By Wendy Van Sickle

Columbus, Ohio, July 1 – HSBC USA Inc. priced $4.39 million of 0% autocallable barrier notes with step-up premium due June 26, 2024 linked to the lesser performing of the S&P 500 index and the VanEck Vectors Gold Miners ETF , according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium if each asset closes at or above its initial level on any semiannual observation date. The premium is 7.75% per year.

If the notes are not called, the payout will be par unless any asset has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing asset from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying assets:	S&P 500 index and VanEck Vectors Gold Miners ETF
Amount:	$4,389,000
Maturity:	June 26, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless either asset has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing asset from its initial level
Call:	At par plus a call premium if each asset closes at or above its initial level on any semiannual observation date; premium is 7.75% per year
Initial asset levels:	4,280.7 for index, $34.36 for ETF
Barrier levels:	2,996.49 for index, $24.052 for ETF, 70% of initial levels
Pricing date:	June 25
Settlement date:	June 30
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40439JCG8

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