By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – HSBC USA Inc. priced $2.03 million of 5.15% autocallable fixed-rate notes due May 17, 2019 linked to the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par plus the coupon if each underlying closes at or above its initial level on any semiannual observation date.
If either asset finishes below its initial level but each index finishes at or above 80% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1.25% for each 1% decline of the lesser performing asset beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable fixed-rate notes
|
| Underlying assets: | iShares MSCI EAFE ETF and Russell 2000 index
|
| Amount: | $2,025,000
|
| Maturity: | May 17, 2019
|
| Coupon: | 5.15%, payable semiannually
|
| Price: | Par
|
| Call: | Automatically at par plus the coupon if both assets close above their initial levels on any semiannual call observation date
|
| Payout at maturity: | Par unless either asset falls by more than 20%, in which case 1.25% loss for each 1% loss of lesser performing asset beyond 20%
|
| Initial levels: | $68.94 for ETF and 1,471.257 for index
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 17
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40435FMB0
|
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