Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.85 million autocallable barrier notes linked to Russell, FTSE
By Kiku Steinfeld
Chicago, Dec. 17 – HSBC USA Inc. priced $11.85 million of 0% autocallable barrier notes due Nov. 26, 2024 linked to the FTSE 100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 10% per year if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout will be par unless any index finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser performing index from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable barrier notes
|
Underlying indexes: | FTSE 100 and Russell 2000
|
Amount: | $11,850,000
|
Maturity: | Nov. 26, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If notes not called, par if each index closes at or above barrier level; otherwise, 1% loss for every 1% that lesser-performing index’s final level is less than initial level
|
Call: | Automatically at par plus call premium of 10% per year if each asset closes at or above its initial level on any quarterly observation date after one year
|
Initial levels: | 7,238.55 for FTSE 100 and 1,583.962 for Russell 2000
|
Barrier levels: | 4,705.0575 for FTSE 100 and 1,029.5753 for Russell 2000, or 65% of initial levels
|
Pricing date: | Nov. 21
|
Settlement date: | Nov. 26
|
Underwriter: | HSBC Securities (USA) Inc.
|
Fees: | 2.85%
|
Cusip: | 40435UL36
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.