By Marisa Wong
Morgantown, W.Va., March 3 – HSBC USA Inc. priced $2.77 million of 0% trigger autocallable optimization securities due Feb. 26, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
After one year, the notes will be called at par of $10 plus a call return of 9% per year if the index closes at or above the initial level on any quarterly observation date.
If the notes are not called and the index finishes at or above the 60% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying index: | Russell 2000
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| Amount: | $2,767,170
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| Maturity: | Feb. 26, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If notes are not called and index finishes at or above trigger level, par; otherwise, 1% loss for every 1% that final index level is less than initial level
|
| Call: | After one year, notes will be called at par plus 9% per year if index closes at or above initial level on any quarterly observation date
|
| Initial index level: | 1,031.576
|
| Trigger level: | 618.946, 60% of initial level
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 29
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| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40434N739
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