By Marisa Wong
Los Angeles, Dec. 29 – HSBC USA Inc. priced $13.31 million of 0% autocallable market-linked step-up notes due Dec. 27, 2024 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium of 11.37% per year if the index closes at or above its initial level on either of the two annual observation dates.
If the index finishes above the step-up value, 124% of the initial value, the payout at maturity will be par plus the index return.
If the index finishes at or below the step-up value but at or above the initial value, the payout will be par plus the step-up payment of 24%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable market-linked step-up notes
|
Underlying index: | MSCI Emerging Markets index
|
Amount: | $13,312,360
|
Maturity: | Dec. 27, 2024
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If the index finishes above the step-up value, par plus the index return; if the index finishes at or below the step-up value but at or above the initial value, par plus 24%; full exposure to losses
|
Call: | Automatically at par plus a premium of 11.37% per year if the index closes at or above its initial level on either annual observation date
|
Initial value: | 1,209.88
|
Step-up value: | 1,500.25, 124% of initial value
|
Pricing date: | Dec. 22
|
Settlement date: | Jan. 3
|
Underwriter: | BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 40390L826
|
© 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.