By Wendy Van Sickle
Columbus, Ohio, June 24 – HSBC USA Inc. priced $3.85 million of 0% autocallable barrier notes with step-up premium due June 18, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if the index closes at or above 85% of its initial level on any annual call date. The call premium is 8% per year.
The payout will be par plus a 48% call premium unless the index has finished below its 85% barrier level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying index: | S&P 500 index
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Amount: | $3.85 million
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Maturity: | June 18, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 48% call premium unless index has finished below barrier level, in which case investors will lose 1% for each 1% decline of index from its initial level
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Call: | At par plus a call premium if index closes at or above 85% of its initial level on any annual call date; call premium is 8% per year
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Initial index level: | 3,041.31
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Barrier level: | 85% of initial levels
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Pricing date: | June 12
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Settlement date: | June 18
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40438CLX7
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