By Wendy Van Sickle
Columbus, Ohio, April 16 – HSBC USA Inc. priced $2.42 million of bear autocallable Strategic Accelerated Redemption Securities due April 25, 2025 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 8.675% if the closing level of the index is less than or equal to its initial level on any annual observation date.
If the notes are not called, investors lose 1% for each 1% gain in the index.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Bear autocallable Strategic Accelerated Redemption Securities
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| Underlying index: | S&P 500 index
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| Principal amount: | $2.42 million
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| Maturity: | April 25, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If not called, 1% loss for each 1% gain of the index
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| Call: | At par plus 8.675% annualized if the closing level of the index is less than or equal to its initial value on any annual observation date
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| Initial level: | 5,199.06
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| Pricing date: | April 11
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| Settlement date: | April 18
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| Agent: | BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 40443V102
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