Published on 7/19/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.08 million autocallable yield notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., July 19 – HSBC USA Inc. priced $1.08 million of 6.25% autocallable yield notes due Oct. 7, 2019 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
After six months, the notes will be automatically called at par plus the coupon if each index closes at or above its initial level on quarterly call observation date.
If the notes are not called, the payout at maturity will be par unless the return of the lesser performing index is negative and either index closes below its 70% trigger level on any day during the life of the notes, in which case the payout will be par plus the return of the lesser performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $1,079,000
|
| Maturity: | Oct. 7, 2019
|
| Coupon: | 6.25%, payable monthly
|
| Price: | Par
|
| Call: | Automatically at par plus the coupon if each index closes at or above its initial level on quarterly call observation date
|
| Payout at maturity: | Par unless return of the lesser performing index is negative and either index closes below its trigger level on any day during the life of the notes, in which case par plus the return of the lesser performing index
|
| Initial levels: | 2,718.37 for S&P and 1,643.069 for Russell
|
| Trigger levels: | 1,902.859 for S&P and 1,150.1483 for Russell; 70% of initial levels
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40435FE60
|
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