By William Gullotti
Buffalo, N.Y., March 14 – HSBC USA Inc. priced $2.5 million of 0% autocallable barrier notes with step-up premium due March 16, 2026 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 13.16% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the notes are not called, the payout will be par unless the index has finished below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable barrier notes with step-up premium
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| Underlying index: | Russell 2000 index
|
| Amount: | $2.5 million
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| Maturity: | March 16, 2026
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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 barrier level, in which case investors will lose 1% for each 1% decline from initial level
|
| Call: | At par plus a 13.16% annualized call premium if the index closes at or above its initial level on any annual observation date
|
| Initial index level: | 1,878.724
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| Barrier level: | 1,127.2344; 60% of initial level
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| Strike date: | March 7
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.1%
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| Cusip: | 40441XZ37
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