Published on 5/17/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.25 million step-down trigger autocallable notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, May 17 – HSBC USA Inc. priced $1.25 million of step-down trigger autocallable notes due May 20, 2024 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus 11.95% per year if each asset closes at or above its initial level on any quarterly observation date, except the final one when the call threshold will be the 75% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 75% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $1.25 million
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| Maturity: | May 20, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 11.95% per year if each asset closes at or above its initial level on any quarterly observation date except the final one, when the call level will be the downside threshold
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| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
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| Initial levels: | 3,385.78 for Stoxx, 1,548.271 for Russell
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| Downside thresholds: | 2,539.34 for Stoxx, 1,161.203 for Russell, 75% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40436B675
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