Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.82 million autocallables with 85% barrier tied to S&P 500
By Susanna Moon
Chicago, June 10 – HSBC USA Inc. priced $782,000 of 0% autocallable securities due June 3, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 7.9% per year if the index closes above initial level on annual call observation date
The payout at maturity will be par unless the index finishes below the 85% barrier level, in which case investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable securities
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Underlying index: | S&P 500
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Amount: | $3,822,000
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Maturity: | June 3, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 15%, in which case full exposure to any losses
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Call: | At par plus 7.9% per year if index closes above initial level on June 1, 2017, May 31, 2018, May 31, 2019 or May 29, 2020
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Initial level: | 2,096.96
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Barrier level: | 1,782.42, 85% of initial level
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Pricing date: | May 31
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Settlement date: | June 3
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40434V871
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