Published on 8/1/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.55 million autocallable return notes linked to Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – HSBC USA Inc. priced $4.55 million of 0% autocallable return notes due July 31, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 8% a year if the index closes at or above its initial level on Aug. 10, 2018 or July 26, 2019.
If the notes are not called, the payout at maturity will be par unless the index finishes below the trigger level, 65.94% of the initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable return notes
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Underlying index: | Euro Stoxx 50
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Amount: | $4,545,000
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Maturity: | July 31, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless index finishes below trigger level, in which case 1% loss for every 1% that index declines from initial level
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Call: | Automatically at par plus call premium of 8% a year if index closes at or above initial level on Aug. 10, 2018 or July 26, 2019
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Initial index level: | 3,467.73
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Trigger level: | 2,286.621162, 65.94% of initial level
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Pricing date: | July 28
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Settlement date: | Aug. 2
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Underwriter: | HSBC Securities (USA) Inc.
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Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 40435FCN5
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