By Wendy Van Sickle
Columbus, Ohio, March 5 – HSBC USA Inc. priced $1.35 million of 0% autocallable barrier notes with step-up premium due Feb. 22, 2024 linked to the lesser performing of the common stocks of Delta Air Lines, Inc. and United Continental Holdings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 28.5% annualized call premium if each stock closes at or above its initial level on any annual observation date.
The payout will be par unless any stock finishes below its 50% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing stock 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 stocks: | Delta Air Lines, Inc. and United Continental Holdings Inc.
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| Amount: | $1.35 million
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| Maturity: | Feb. 22, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing stock from its initial level
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| Call: | At par plus 28.5% annualized premium if each stock closes at or above its initial level on any annual observation date
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| Initial levels: | $44.39 for Delta and $46.08 for United Continental
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| Barrier levels: | $22.195 for Delta and $23.04 for United Continental, 50% of initial levels
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40438CY39
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