Published on 8/31/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $26.69 million market-linked step-up autocalls linked to Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – HSBC USA Inc. priced $26.69 million of 0% autocallable market-linked step-up notes due Aug. 29, 2024 tied to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 9.8% annualized premium if the index closes at or above its initial level on either annual call observation date.
If the index finishes above the step-up value, 121% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 21%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable market-linked step-up notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $26,692,930
|
Maturity: | Aug. 29, 2024
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 21%; otherwise, lose 1% for every 1% decline of the index from its initial level
|
Call: | At par plus a 9.8% annualized call premium if index closes at or above initial level on Sept. 1, 2022 or Aug. 24, 2023
|
Initial index level: | 4,169.87
|
Step-up value: | 5,045.54; 121% of initial value
|
Pricing date: | Aug. 26
|
Settlement date: | Sept. 3
|
Agent: | BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 40439K573
|
|
|
© 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.