By Sarah Lizee
Olympia, Wash., Feb. 13 – HSBC USA Inc. priced $3.31 million of buffered autocallable yield notes due Feb. 7, 2022 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are callable after six months at par plus a call premium at an annualized rate of 9% on a semiannual call date if the level of each index closes at or above its initial level.
Investors will receive par if both indexes finish above 80% of their initial values.
Otherwise, investors will lose 1.25% for each 1% decline beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered autocallable yield notes
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Underlying indexes: | S&P 500 index and the Russell 2000 index
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Amount: | $3,305,000
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Maturity: | Feb. 7, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par if both indexes finish above buffer levels; 1.25% loss for each 1% decline beyond buffer
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Call: | Par plus annualized rate of 9% if both indexes finish above initial level on any semiannual call date
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Initial prices: | 3,248.92 for S&P 500 and 1,632.205 for Russell 2000
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Buffer levels: | 80% of initial levels
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Pricing date: | Feb. 3
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Settlement date: | Feb. 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40435U5F7
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