Published on 10/2/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.55 million autocallable barrier notes with step-up premium on S&P 500
By Marisa Wong
Los Angeles, Oct. 2 – HSBC USA Inc. priced $1.55 million of 0% autocallable barrier notes with step-up premium due Sept. 23, 2025 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 its initial level on any annual call observation date. The call premium is 9.65% per year.
If the notes are not called and the index finishes at or above its 75% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable barrier notes with step-up premium
|
Underlying index: | S&P 500 index
|
Amount: | $1,547,000
|
Maturity: | Sept. 23, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index finishes at or above its 75% barrier level, par; otherwise, full exposure to losses
|
Call: | At par plus a call premium of 9.65% per year if index closes at or above its initial level on any annual call date
|
Initial index level: | 3,319.47
|
Pricing date: | Sept. 18
|
Settlement date: | Sept. 23
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | None
|
Cusip: | 40438CVM0
|
|
© 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.