New Issue: HSBC sells $796,000 autocallable buffered notes with step-up premium on S&P

By Kiku Steinfeld

Chicago, Sept. 27 – HSBC USA Inc. priced $796,000 of 0% autocallable buffered notes with step-up premium due March 20, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a 7.8% annualized call premium if the index closes at or above its initial level on any annual valuation date.

If the notes are not called, the payout will be par unless the index has finished below its 85% buffer level, in which case investors will lose 1% for each 1% decline of the index beyond 15%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable buffered notes with step-up premium
Underlying index:	S&P 500 index
Amount:	$796,000
Maturity:	March 20, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless the index finishes below buffer level, in which case investors will lose 1% for each 1% decline beyond 15%
Call:	At par plus a 7.8% annualized call premium if the index closes at or above its initial level on any annual valuation date
Initial index level:	3,891.93
Buffer level:	3,308.1405; 85% of initial level
Pricing date:	March 15, 2023
Settlement date:	March 20, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	3.75%
Cusip:	40441XZ86

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