Published on 2/20/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $684,000 autocallable barrier notes on three indexes
By Sarah Lizee
Olympia, Wash., Feb. 20 – HSBC USA Inc. priced $684,000 of 0% autocallable barrier notes due Feb. 20, 2025 linked to the S&P 500 index, the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 9.2% per year if each underlying closes at or above its initial level on any annual observation date after one year.
If the notes are not called and the least performing index declines by up to 40%, the payout will be par.
If any index finishes below 60% of its initial level, the payout will be par plus the return of the least performing index with full exposure to the decline.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes
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Underlying assets: | S&P 500 index, Euro Stoxx 50 index and Dow Jones industrial average
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Amount: | $684,000
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Maturity: | Feb. 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called, par unless any index finishes below trigger level, in which case full exposure to decline of least performing index
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Call: | Automatically at par plus 9.2% per year if each underlying closes at or above its initial level on any annual observation date after one year
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Initial levels: | 3,380.16 for S&P, 3,840.97 for Stoxx, 29,398.08 for Dow
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Trigger levels: | 2,028.096 for S&P, 2,304.582 for Stoxx, 17,638.848 for Dow; 60% of initial levels
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Pricing date: | Feb. 14
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Settlement date: | Feb. 20
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.625%
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Cusip: | 40435U6G4
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