Published on 6/8/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.92 million 6.25% yield autocallables tied to two indexes
By Susanna Moon
Chicago, June 8 – HSBC USA Inc. priced $3.92 million of 6.25% autocallable yield notes due Aug. 31, 2018 linked to the worse performing of 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.
The notes will be called at par if each index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable yield notes
|
Underlying indexes: | S&P 500 and Russell 2000
|
Amount: | $3,919,000
|
Maturity: | Aug. 31, 2018
|
Coupon: | 6.25%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless either index falls and ever dips below 70% trigger, in which case 1% loss per 1% decline of worse performing index
|
Call: | At par if each index closes at or above initial level on any quarterly review date beginning Nov. 27, 2017
|
Initial levels: | 2,415.07 for S&P, 1,383.388 for Russell
|
Barrier levels: | 1,690.549 for S&P, 968.3716 for Russell; 70% of initial levels
|
Pricing date: | May 25
|
Settlement date: | May 31
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.25%
|
Cusip: | 40433U4P8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.