By Wendy Van Sickle
Columbus, Ohio, Sept. 11 – HSBC USA Inc. priced $15.09 million of 0% autocallable market-linked step-up notes due Aug. 26, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on an annual observation date, the notes will be called at par plus a premium of 15.6% a year.
If the index finishes above the step-up level – 135% 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 35%.
Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable market-linked step-up notes
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Underlying index: | Euro Stoxx 50
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Amount: | $15,089,470
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Maturity: | Aug. 26, 2021
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Coupon: | 0%
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Price: | Par of $10
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Call: | At par plus 15.6% a year premium if index closes at or above initial level on an annual observation date
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Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 35%; exposure to any decline
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Initial level: | 3,430.99
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Step-up value: | 4,631.84, 135% of initial level
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Pricing date: | Aug. 30
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Settlement date: | Sept. 10
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40435X678
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