By Marisa Wong
Morgantown, W.Va., Sept. 11 – HSBC USA Inc. priced $1.4 million of 0% Strategic Accelerated Redemption Securities due Sept. 3, 2021 linked to the worst performing of the common stocks of Delta Air Lines, Inc., JetBlue Airways Corp. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 25.25% if each stock closes at or above its initial price on an annual observation date.
If the notes are not called, investors will lose 1% for every 1% decline of the least performing stock below its initial price.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Strategic Accelerated Redemption Securities
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Underlying stocks: | Delta Air Lines, Inc. (Symbol: DAL), JetBlue Airways Corp. (Symbol: JBLU) and Southwest Airlines Co. (Symbol: LUV)
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Amount: | $1.4 million
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Maturity: | Sept. 3, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | 1% loss for every 1% decline of least performing stock
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Call: | At par plus 25.25% per year if each stock closes at or above initial price on annual observation date
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Initial prices: | $47.19 for Delta, $19.81 for JetBlue, $52.14 for Southwest
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Pricing date: | Aug. 31
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Settlement date: | Sept. 8
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40435G428
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