By William Gullotti
Buffalo, N.Y., Sept. 27 – HSBC USA Inc. priced $8.84 million of 8.4% autocallable yield notes due March 27, 2024 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par if the index closes at or above its initial level on any semiannual call date.
The payout at maturity will be par unless any index finishes below its 75% trigger level, in which case investors will lose 1.3333% for every 1% decline of the worst performer below 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying index: | Russell 2000 index
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Amount: | $8,843,000
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Maturity: | March 27, 2024
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Coupon: | 8.4%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless the index finishes below its 75% trigger level, in which case 1.3333% loss for every 1% decline beyond 25%
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Call: | Automatically at par if the index closes at or above initial level on any semiannual call date
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Initial level: | 1,787.5
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Trigger level: | 1,340.625; 75% of initial level
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Strike date: | Sept. 21
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40441XPL8
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