Chicago, July 21 – HSBC USA Inc. priced $8.72 million autocallable Strategic Accelerated Redemption Securities due July 31, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at an annualized call premium of 9.23% if the closing level of the index is greater than or equal to its initial level on any annual determination date.
At maturity, the notes will be called if the index closes above its initial level.
Otherwise, investors lose 1% for each 1% decline in the index from the initial level.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $8,716,810
|
| Maturity: | July 31, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If not called, 1% loss for each 1% decline from initial level
|
| Call: | At par plus 9.23% annualized if the closing level of the index is greater than or equal to its initial value on any annual determination date
|
| Initial level: | 4,510.04
|
| Pricing date: | July 13
|
| Settlement date: | July 20
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 44328M377
|
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