Published on 3/12/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.45 million autocallable barrier notes on two indexes
By Marisa Wong
Morgantown, W.Va., March 12 – HSBC USA Inc. priced $3.45 million of 0% autocallable barrier notes due Feb. 28, 2024 linked to the S&P 500 index and 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 call premium of 11.25% a year if each underlying closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either underlying falls by more than 40%, in which case investors will be fully exposed to the decline of the worse performer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes
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Underlying assets: | S&P 500 index and Euro Stoxx 50 index
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Amount: | $3.45 million
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Maturity: | Feb. 28, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either underlying falls by more than 40%, in which case investors will be fully exposed to the decline of the worst performer
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Call: | Automatically at par plus a call premium of 11.25% a year if each underlying closes at or above its initial level on any quarterly observation date
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Initial levels: | 2,793.90 for S&P and 3,289.32 for Stoxx
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Barrier levels: | 1,676.34 for S&P and 1,973.592 for Stoxx; 60% of initial levels
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Pricing date: | Feb. 26
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Settlement date: | Feb. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.85%
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Cusip: | 40435UGU2
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