By William Gullotti
Buffalo, N.Y., Nov. 1 – HSBC USA Inc. priced $3.83 million of 0% autocallable notes due Oct. 31, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Notes and Exchange Commission.
The notes will be called at par of $10 plus a premium of 10.1% per year if the index closes at or above the initial level on any quarterly observation date after one year.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus 50.5%.
Investors will be fully exposed to any index decline.
HSBC Notes (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,825,130
|
| Maturity: | Oct. 31, 2028
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If notes are not called and index finishes at or above initial level, par plus 50.5%; otherwise, full exposure to losses
|
| Call: | Automatically at par plus 10.1% per year if index closes at or above initial level on any quarterly observation date after one year
|
| Initial index level: | 4,137.23
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Agents: | HSBC Notes (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40443B544
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
