By William Gullotti
Buffalo, N.Y., March 17 – HSBC USA Inc. priced $1.4 million of 0% autocallable buffered notes with step-up premium due March 16, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12.1% annualized call premium if the index closes at or above its initial level on any annual valuation date.
If the notes are not called, the payout will be par unless the index has finished below its 85% buffer level, in which case investors will lose 1% for each 1% decline of the index beyond 15%.
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: | S&P 500 index
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Amount: | $1.4 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 buffer level, in which case investors will lose 1% for each 1% decline beyond 15%
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Call: | At par plus a 12.1% annualized call premium if the index closes at or above its initial level on any annual valuation date
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Initial index level: | 3,861.59
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Buffer level: | 3,282.3515; 85% of initial level
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Pricing date: | March 10
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Settlement date: | March 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40441XW48
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