Published on 2/12/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $65,000 autocallable yield notes on Stoxx 50, Russell 2000
By Marisa Wong
Morgantown, W.Va., Feb. 12 – HSBC USA Inc. priced $65,000 of 6% autocallable yield notes due May 6, 2019 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning Aug. 1, the notes will be called at par of $1,000 plus the interest payment if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final interest payment unless either index closes below its 70% trigger level on any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $65,000
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| Maturity: | May 6, 2019
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| Coupon: | 6%, payable monthly
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| Price: | Par
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| Call: | Beginning Aug. 1, quarterly at par plus coupon if each index closes above initial level on a quarterly observation date
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| Payout at maturity: | Par plus coupon unless either index finishes below its initial level and either closes below trigger level on any day during life of notes, in which case full exposure to decline of lesser performing index
|
| Initial levels: | 3,609.29 for Stoxx and 1,574.982 for Russell
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| Trigger levels: | 2,526.503 for Stoxx and 1,102.4874 for Russell; 70% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40435FQS9
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