Published on 9/18/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.02 million step-down trigger autocallables on Russell, Nasdaq
By Sarah Lizee
Olympia, Wash., Sept. 18 – HSBC USA Inc. priced $1.02 million of 0% step-down trigger autocallable notes due Sept. 18, 2024 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 8.55% per year if each index closes at or above its initial level on any of the first 16 quarterly observation dates or if each index closes at or above its 75% downside threshold level on the final valuation date.
If the notes are not called, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Step-down trigger autocallable notes
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Underlying indexes: | Russell 2000 and Nasdaq-100
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Amount: | $1.02 million
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Maturity: | Sept. 18, 2024
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Coupon: | 0%
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Price: | Par of $10
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Call: | At par plus 8.55% per year if each index closes at or above initial level on any of first 16 quarterly observation dates or if each index closes at or above downside threshold on final valuation date
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Payout at maturity: | 1% loss for each 1% decline of the worst performing index from initial level
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Initial levels: | 1,578.138 for Russell, 7,892.955 for Nasdaq-100
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Downside thresholds: | 1,183.604 for Russell, 5,919.716 for Nasdaq-100; 75% of initial levels
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Pricing date: | Sept. 13
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Settlement date: | Sept. 18
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Agent: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 40438B400
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