Published on 6/5/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.02 million 5.7% autocallable yield notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., June 5 – HSBC USA Inc. priced $1.02 million of 5.7% autocallable yield notes due Sept. 8, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date, starting in December.
If the notes are not called, the payout at maturity will be par unless either index ever closes below 70% of its initial 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% that the lesser performing index declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,018,000
|
| Maturity: | Sept. 8, 2020
|
| Coupon: | 5.7%, payable monthly
|
| Price: | Par
|
| Call: | At par if each index closes at or above its initial level on any quarterly call observation date, starting in December
|
| Payout at maturity: | Par unless either index ever closes below 70% of its initial 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% that the lesser performing index declines
|
| Initial levels: | 2,752.06 for S&P 500 and 1,465.487 for Russell 2000
|
| Trigger values: | 1,926.44 for S&P 500 and 1,025.841 for Russell 2000; 70% of initial levels
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40435UND2
|
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