Published on 7/19/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.77 million step down trigger autocalls on Dow, Russell
By Susanna Moon
Chicago, July 19 – HSBC USA Inc. priced $2.77 million of 0% step down trigger autocallable notes due July 18, 2023 linked to the least performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of 10% if each index closes at or above its initial level on any annual review date after one year or at or above its 75% downside threshold on the final date.
If the notes are not called, the payout at maturity will be par plus the return of the worse performing index with full exposure to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Step down trigger autocallable notes
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $2,765,000
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Maturity: | July 18, 2023
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Price: | Par of $10
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Payout at maturity: | Par plus return with 1% loss per 1% decline of worse performing index
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Call: | At par plus 10% per year if index closes at or above its initial level on any annual review date beginning in July 2019 or above 75% downside threshold on final date
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Initial levels: | 25,019.41 for Dow and 1,687.079 for Russell
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Downside thresholds: | 18,764.56 for Dow and 1,265.309 for Russell, 75% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435X777
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