By William Gullotti
Buffalo, N.Y., Jan. 5 – HSBC USA Inc. priced $3.95 million of 0% autocallable buffered notes with step-up premium due June 27, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 15% annualized call premium if the index closes at or above its initial level on any semiannual observation date.
If the notes are not called, the payout will be par unless the index has finished below its 75% buffer level, in which case investors will lose 1.333% for each 1% decline of the index beyond 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable buffered notes with step-up premium
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Underlying index: | Russell 2000 index
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Amount: | $3,954,000
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Maturity: | June 27, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless the index finishes below buffer level, in which case investors will lose 1.333% for each 1% decline beyond 25%
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Call: | At par plus a 15% annualized call premium if the index closes at or above its initial level on any semiannual observation date
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Initial index level: | 1,748.017
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Buffer level: | 75% of initial level
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Strike date: | Dec. 20
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40441XYV6
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