By Kiku Steinfeld
Chicago, Sept. 8 – HSBC USA Inc. priced $8.6 million of 0% autocallable market-linked step-up notes due Aug. 26, 2022 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 13.75% if the index closes at or above its initial level on Sept. 3, 2021.
If the index finishes above the step-up value – 126% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the final index level is greater than or equal to the initial index level but is less than or equal to the step-up level, the payout will be par plus the step-up payment of 26%.
Investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Nasdaq-100
|
| Amount: | $8,601,420
|
| Maturity: | Aug. 26, 2022
|
| 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 final index level is greater than or equal to the initial index level but is less than or equal to the step-up level, par plus 26%; full exposure to losses
|
| Call: | At par plus 13.75% if the index closes at or above its initial level on Sept. 3, 2021
|
| Initial level: | 11,926.16
|
| Step-up value: | 15,026.96, 126% of initial level
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 3
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40438J221
|
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