New Issue: HSBC sells $654,000 autocallable barrier notes with step-up premium on S&P, ETF

By Wendy Van Sickle

Columbus, Ohio, July 14 – HSBC USA Inc. priced $654,000 of 0% autocallable barrier notes with step-up premium due June 3, 2024 linked to the lesser performing 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 18% 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 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:	VanEck Vectors Gold Miners ETF, S&P 500 index
Amount:	$654,000
Maturity:	June 3, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless either underlier finishes 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 an annual 18% call premium if each underlier closes at or above its initial level on any semiannual observation date
Initial asset levels:	$39.21 for ETF, 4,200.88 for S&P
Barrier levels:	$27.447 for ETF, 2,940.616 for S&P; 70% of initial levels
Pricing date:	May 27
Settlement date:	June 2
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40439JAA3

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