If a player uses Crimson Rite at 1st, do they lose 1 max HP and take 1 dmg?

For Blood Hunter: If a player uses Crimson Rite at 1st, do they lose 1 max HP and take 1 dmg (leaving them 2 below start)? They technically take the damage before losing the max HP, so you only lose 1

— Matthew Mercer (@matthewmercer) August 9, 2017