New Issue: HSBC sells $993,000 autocallable barrier notes tied to clean energy ETF

By Marisa Wong

Los Angeles, March 29 – HSBC USA Inc. priced $993,000 of 0% autocallable barrier notes with step-up premium due Feb. 26, 2024 linked to the iShares Global Clean Energy exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of 17% if the fund closes at or above its initial price on any semiannual call observation date.

If the notes are not called and the fund finishes at or above its 60% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the fund.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying fund:	iShares Global Clean Energy ETF
Amount:	$993,000
Maturity:	Feb. 26, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If fund finishes at or above barrier value, par; otherwise, full exposure to losses
Call:	At par plus a call premium of 17% per year if fund closes at or above its initial price on any semiannual call date
Initial price:	$26.23
Barrier value:	$15.738, 60% of initial price
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40438CU41

© 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.