Published on 8/31/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.9 million 6.25% autocallable notes on S&P 500, Russell
By Marisa Wong
Morgantown, W.Va., Aug. 31 – HSBC USA Inc. priced $1.9 million of 6.25% autocallable yield notes due Dec. 1, 2016 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning March 1, 2016, the notes will be called at par if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either index closes below its trigger level, 80% of its initial level, on any day during the life of the notes and the return of the worst-performing index is negative, in which case investors will lose 1% for every 1% that the worst-performing index finishes below its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,895,000
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Maturity: | Dec. 1, 2016
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Coupon: | 6.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index closes below 80% trigger level during life of notes and return of worst-performing index is negative, in which case 1% loss for every 1% that worst-performing index finishes below initial level
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Call: | Automatically at par if both indexes close at or above their initial levels on any quarterly call observation date beginning March 1, 2016
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Initial index levels: | 1,940.51 for S&P 500 and 1,132.188 for Russell 2000
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40433B4Q8
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