New Issue: HSBC sells $467,000 autocallable barrier notes with step-up premium on indexes

By Kiku Steinfeld

Chicago, July 9 – HSBC USA Inc. priced $467,000 of 0% autocallable barrier notes with step-up premium due May 28, 2024 linked to the lesser performing of the S&P 500 index, the Nasdaq-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 a call premium if each index closes at or above its initial level on any annual observation date. The premium is 6.5% per year.

If the notes are not called, the payout will be par unless any index has finished below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable barrier notes with step-up premium
Underlying indexes:	S&P 500, Nasdaq-100 and Russell 2000
Amount:	$467,000
Maturity:	May 28, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless either index has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
Call:	At par plus a call premium if each index closes at or above its initial level on any annual observation date; premium is 6.5% per year
Initial index levels:	13,641.75 for Nasdaq, 2,227.338 for Russell, 4,197.05 for S&P
Barrier levels:	8,867.1375 for Nasdaq, 1,447.7697 for Russell, 2,728.0825 for S&P; 65% of initial levels
Pricing date:	May 24
Settlement date:	May 27
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40438C7K1

© 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.