Published on 6/10/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3 million 6% autocallable yield notes tied to S&P 500, Stoxx, Nikkei
By Wendy Van Sickle
Columbus, Ohio, June 10 – HSBC USA Inc. priced $3 million of 6% autocallable yield notes due June 13, 2017 linked to the S&P 500 index, Euro Stoxx 50 index and the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning in September 2016.
The payout at maturity will be par unless any index ever closes below its 62% trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to any losses of the worst performing index.
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, Euro Stoxx 50 and Nikkei 225 index
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Amount: | $3 million
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Maturity: | June 13, 2017
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Coupon: | 6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any index ever closes below trigger level during life of notes and any index finishes below initial level, in which case full exposure to losses of worst performing index
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Call: | At par if each index closes at or above initial level on any quarterly observation date beginning in September 2016
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Initial levels: | 2,119.12 for S&P, 3,019.76 for Euro Stoxx, 16,830.92 for Nikkei
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Trigger levels: | 62% of initial levels
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Pricing date: | June 8
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Settlement date: | June 13
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40433UPH3
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