By Wendy Van Sickle
Columbus, Ohio, April 9 – HSBC USA Inc. priced $10 million of 0% market-linked step-up autocallable notes due April 11, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
The notes will be called at par plus an annual call premium of 6.5% if the index closes at or above its initial level on any annual call date.
If the index finishes above the step-up level – 125% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 25%.
Investors will receive par if the index falls by up to 20% and will be exposed to losses beyond 20%.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Market-linked step-up autocallable notes
|
Underlying index: | S&P 500
|
Amount: | $10 million
|
Maturity: | April 11, 2023
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains by up to the step-up level, par plus 25%; par if index falls by up to 20%; exposure to losses beyond 20%
|
Call: | At par plus 6.5% per year if the index closes at or above its initial level on any annual observation date
|
Initial level: | 2,584.59
|
Step-up level: | 3,230.74, 125% of initial level
|
Threshold level: | 2,067.67, 80% of initial level
|
Pricing date: | March 31
|
Settlement date: | April 7
|
Agent: | BofA Securities, Inc.
|
Fees: | 1.5%
|
Cusip: | 40438J817
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.