By Wendy Van Sickle
Columbus, Ohio, Sept. 11 – HSBC USA Inc. priced $5.04 million of 0% autocallable market-linked step-up notes due Aug. 28, 2020 linked to the PHLX Housing Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on Sept. 6, 2019, the notes will be called at par plus a premium of 8.7%.
If the index finishes above the step-up level – 120% 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 20%.
Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | PHLX Housing Sector
|
| Amount: | $5,037,640
|
| Maturity: | Aug. 28, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 8.7% if index closes at or above initial level on Sept. 6, 2019
|
| 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 20%; exposure to any decline
|
| Initial level: | 302.32
|
| Step-up value: | 362.78, 120% of initial level
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 10
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435X637
|
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