By Wendy Van Sickle
Columbus, Ohio, April 5 – HSBC USA Inc. priced $3.1 million of 0% autocallable securities due April 1, 2021 linked to Nvidia Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized premium of 11.5% if the stock closes at or above its initial share price on any quarterly observation date.
If the final share price is greater than or equal to the 90% downside threshold level, the payout at maturity will be par plus 34.5%.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable securities
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| Underlying stock: | Nvidia Corp.
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| Amount: | $3.1 million
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| Maturity: | April 1, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par plus 34.5%; otherwise, full exposure to decline
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| Call: | At par plus 11.5% annualized call premium if stock closes at or above initial level on any quarterly call date
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| Initial share price: | $231.59
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| Downside threshold: | $208.431, 90% of initial share price
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| Pricing date: | March 29
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| Settlement date: | April 4
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| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 40435M664
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