By William Gullotti
Buffalo, N.Y., May 11 – HSBC USA Inc. priced $5.15 million of 0% autocallable buffer notes with step-up premium due Nov. 12, 2024 linked to the lesser performing of 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 15.6% annualized call premium if each index closes at or above its initial level on any semiannual observation date.
If the notes are not called, the payout will be par plus the absolute value of the least-performing index unless any index finishes below its 80% buffer level, in which case investors will lose 1.25% for each 1% decline of the least-performing index below 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable buffer notes with step-up premium
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $5.15 million
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| Maturity: | Nov. 12, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus absolute value of least-performing index return unless any index finishes below buffer level, in which case investors will lose 1.25% for each 1% decline of least-performing index below 20%
|
| Call: | At par plus a 15.6% annualized call premium if each index closes at or above its initial level on any semiannual observation date
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| Initial index levels: | 12,982.48 for Nasdaq, 1,718.811 for Russell
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| Buffer levels: | 80% of initial levels
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| Strike date: | May 4
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| Pricing date: | May 5
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| Settlement date: | May 10
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.5%
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| Cusip: | 40447AAT1
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