Published on 3/9/2017 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $10.25 million step-down trigger autocallables tied to S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, March 9 – Barclays Bank plc priced $10.25 million of 0% step-down trigger autocallable notes due March 10, 2020 linked to the S&P 500 index, the Euro Stoxx 50 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 return of 11.05% a year if each index closes at or above its initial level on an annual observation date or at or above its 70% trigger level on the final valuation date.
The payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
UBS Financial Services Inc. and Barclays Capital Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000, S&P 500
|
| Amount: | $10.25 million
|
| Maturity: | March 10, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 11.05% annualized if each index closes at or above its call threshold level on any call observation date; call threshold is equal to initial index levels for every call observation date except for final date, when threshold will be 70% of initial levels
|
| Payout at maturity: | If notes are not called, full exposure to the decline of the worse performing index
|
| Initial levels: | 3,403.39 for Stoxx, 1,394.127 for Russell and 2,383.12 for S&P
|
| Trigger levels: | 2,382.37 for Stoxx, 975.889 for Russell, 1,668.18 for S&P; 70% of initial levels
|
| Pricing date: | March 7
|
| Settlement date: | March 10
|
| Underwriters: | UBS Financial Services Inc. and Barclays Capital Inc.
|
| Fees: | 1.5%
|
| Cusip: | 06745T343
|
|
|
© 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.
