New Issue: HSBC sells $3.53 million step-down trigger autocallables on S&P, Stoxx

By Sarah Lizee

Olympia, Wash., Dec. 12 – HSBC USA Inc. priced $3.53 million of 0% step-down trigger autocallable notes due Dec. 11, 2023 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call return of 8.48% per year if each index closes at or above its initial level on any of the first four annual observation dates or if each index closes at or above its 60% 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:	S&P 500 and Euro Stoxx 50
Amount:	$3.53 million
Maturity:	Dec. 11, 2023
Coupon:	0%
Price:	Par of $10
Call:	At par plus 8.48% per year if each index closes at or above initial level on any of first four annual 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:	2,695.95 for S&P, 3,045.94 for Stoxx 50
Downside thresholds:	1,617.57 for S&P, 1,827.56 for Stoxx 50; 60% of initial levels
Pricing date:	Dec. 6
Settlement date:	Dec. 12
Agent:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	None
Cusip:	40436A628

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