By Marisa Wong
Morgantown, W.Va., Dec. 1 – HSBC USA Inc. sold $2.03 million of 0% Strategic Accelerated Redemption Securities due Nov. 29, 2021 linked to the S&P Oil & Gas Exploration & Production Select Industry index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 14.25% if the index closes at or above its initial level on any of four annual review dates.
The payout at maturity will be par unless the index falls, in which case investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P Oil & Gas Exploration & Production Select Industry index
|
| Amount: | $2,025,000
|
| Maturity: | Nov. 29, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless the index falls, in which case investors will be exposed to any losses
|
| Call: | At par plus an annualized call premium of 14.25% if the index closes at or above its initial level on any of four annual review dates
|
| Initial level: | 5,275.16
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 29
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435H111
|
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