Published on 1/23/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $62,000 autocallable barrier notes with step-down call level on index, ETF
By Sarah Lizee
Olympia, Wash., Jan. 23 – HSBC USA Inc. priced $62,000 of 0% autocallable barrier notes with step-down call threshold feature due Jan. 25, 2023 linked to the least performing of the iShares MSCI Emerging Markets ETF the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12% annualized premium if each asset closes at or above its call level on any annual observation date after one year. The call level will be 100% of the initial level on the first through third observation dates and 70% of the initial level on the final observation date.
The payout at maturity will be par plus the return of the least-performing asset.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-down call threshold feature
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Underlying indexes: | iShares MSCI Emerging Markets ETF the Euro Stoxx 50 index
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Amount: | $62,000
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Maturity: | Jan. 25, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return of least-performing index
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Call: | At par plus 12% annualized premium if each index closes at or above initial level on first through third annual observation date and 70% of initial level on final observation date
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Initial index levels: | 3,134.92 for index, $41.55 for ETF
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Trigger levels: | 2,194.444 for index, $29.085 for ETF; 70% of initial levels
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Pricing date: | Jan. 18
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Settlement date: | Jan. 25
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40435UCT9
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