By Wendy Van Sickle
Columbus, Ohio, March 19 – HSBC USA Inc. priced $17.83 million of 0% autocallable market-linked step-up notes due March 30, 2023 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 plus an annual call premium of 11.4% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 140% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 40%.
Investors will receive par if the index falls by up to 15% and will be exposed to any losses if it falls beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $17,825,120
|
| Maturity: | March 30, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if index gains up to the step-up level, par plus 40%; par if index falls by up to 15% and exposure to any losses if it falls beyond 15%
|
| Call: | At par plus 11.4% per year if index closes at or above its initial level on any annual observation date
|
| Initial level: | 3,414.13
|
| Step-up value: | 4,779.78, 140% of initial level
|
| Threshold level: | 2,902.01, 85% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 22
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435M821
|
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