New Issue: HSBC sells $931,000 autocallable barrier notes with step-up premium on index, ETF

By Kiku Steinfeld

Chicago, Feb. 14 – HSBC USA Inc. priced $931,000 of 0% autocallable barrier notes with step-up premium due Sept. 3, 2024 linked to the performance of the VanEck Vectors Gold Miners ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual 19.75% call premium if each underlier closes at or above its initial level on any semiannual observation date.

If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performer 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:	VanEck Vectors Gold Miners ETF, S&P 500 index
Amount:	$931,000
Maturity:	Sept. 3, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless any underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of worst performer from its initial level
Call:	At par plus an annual 19.75% call premium if each underlier closes at or above its initial level on any semiannual observation date
Initial asset levels:	$32.60 for ETF, 4,522.68 for S&P
Barrier levels:	$22.82 for ETF, 3,165.876 for S&P; 70% of initial levels
Pricing date:	Aug. 31
Settlement date:	Sept. 3
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40439JHR9

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