Published on 6/7/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.62 million step-down trigger autocallables on S&P 500, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, June 7 – HSBC USA Inc. priced $4.62 million of 0% step-down trigger autocallable notes due May 29, 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 10.75% a year if each index closes at or above its initial level on an annual observation date or at or above its 75% 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 worst performing index.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Russell 2000, S&P 500, Euro Stoxx 50
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| Amount: | $4,617,000
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| Maturity: | May 29, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 10.75% 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 75% of initial levels
|
| Payout at maturity: | If notes are not called, full exposure to the decline of the worst performing index
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| Initial levels: | 1,382.244 for Russell, 2,415.82 for S&P, 3,579.02 for Stoxx
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| Trigger levels: | 1,036.683 for Russell, 1,811.87 for S&P, 2,684.27 for Stoxx; 75% of initial levels
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| Pricing date: | May 26
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| Settlement date: | May 31
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| Underwriters: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
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| Cusip: | 40435D433
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