Published on 4/10/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $13.86 million autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., April 10 – HSBC USA Inc. priced $13.86 million of 0% autocallable securities due April 5, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium of 13.55% a year if the index closes at or above its initial level on any of five annual determination dates.
If the final index level is greater than or equal to the initial share price, the payout at maturity will be par plus 67.75%. Investors will receive par if the index falls by 15% or less. If the index declines by more than 15%, investors will have one-to-one exposure to the index’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $13,856,090
|
| Maturity: | April 5, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to initial share price, par plus 67.75%; par if index falls by 15% or less; if index declines by more than 15%, one-to-one exposure to index’s decline from initial level
|
| Call: | At par plus 13.55% per year if index closes at or above initial share price on April 3, 2018, March 29, 2019, March 31, 2020, March 31, 2021 or March 31, 2022
|
| Initial index level: | 3,500.93
|
| Downside threshold: | 2,975.7905, 85% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | HSBC Securities (USA) Inc.
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 40435H798
|
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