By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – HSBC USA Inc. priced $660,000 of contingent income buffered autocallable securities due Oct. 30, 2025 linked to the lesser performing of the Nasdaq-100 index and Market Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6.65% per year if each underlier closes at or above its coupon barrier, 75% of its initial level, on the determination date for that period.
Starting in October 2021, the notes will be automatically called at par if each underlier closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless either underlier finishes below its 80% buffer level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Contingent income buffered autocallable securities
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| Underliers: | Nasdaq-100 index and Market Vectors Gold Miners ETF
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| Amount: | $660,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 6.65% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date
|
| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond buffer
|
| Call: | Starting in October 2021, automatically at par if each underlier closes at or above initial level on any monthly determination date
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| Initial levels: | 11,598.95 for Nasdaq and $38.83 for ETF
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| Coupon barriers: | 75% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 30
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.75%
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| Cusip: | 40438CZE4
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