By William Gullotti
Buffalo, N.Y., July 13 – HSBC USA Inc. priced $1.36 million of 0% barrier participation notes with autocall feature due June 25, 2025 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a call premium of 12% if each index closes at or above its initial level on June 26, 2024.
If each index finishes at or above its initial level, the payout at maturity will be par plus 150% of the laggard index’s return.
If the worst performer declines but finishes at or above its 70% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier participation notes with autocall feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $1,358,000
|
| Maturity: | June 25, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 150% of laggard index’s return; par if the worst performer declines up to barrier level; otherwise, full exposure to decline of worst performer
|
| Call: | Automatically at par plus 12% call premium if the index closes at or above initial level on June 26, 2024
|
| Initial levels: | 4,378.41 for S&P, 1,849.93 for Russell
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 40447ABS2
|
|
|
© 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.
