By William Gullotti
Buffalo, N.Y., April 17 – HSBC USA Inc. priced $4.69 million of 8% autocallable yield notes due Oct. 15, 2024 linked to the performance of the Nasdaq-100 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: | Nasdaq-100 index
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Amount: | $4,694,000
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Maturity: | Oct. 15, 2024
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Coupon: | 8%, 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: | 13,051.23
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Trigger level: | 9,788.4225; 75% of initial level
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Strike date: | April 10
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Pricing date: | April 11
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Settlement date: | April 14
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40441X4X5
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