Chicago, Sept. 28 – HSBC USA Inc. priced $11.53 million of 0% autocallable market-linked step-up notes due Sept. 30, 2022 linked to the PHLX Housing Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on Oct. 1, 2021, the notes will be called at par plus a premium of 15.8%.
If the index finishes above the step-up level – 125% of the initial level – the payout at maturity will be par plus the 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 be exposed to any index decline.
BofA Securities Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | PHLX Housing Sector
|
| Amount: | $11,532,690
|
| Maturity: | Sept. 30, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 15.8% if index closes at or above initial level on Oct. 1, 2021
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 25%; exposure to any decline
|
| Initial level: | 370.41
|
| Step-up value: | 463.01, 125% of initial level
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 1
|
| Underwriter: | BofA Securities Inc.
|
| Fees: | 2%
|
| Cusip: | 40438J114
|
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