Published on 7/18/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.08 million 5.15% autocallables linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., July 18 – HSBC USA Inc. priced $6.08 million of 5.15% worst-of autocallable fixed-rate notes due Jan. 22, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be automatically called at par if each index closes at or above its initial level on any semiannual observation date.
If the lesser-performing index’s return is greater than or equal to negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the lesser-performing index declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Worst-of autocallable fixed-rate notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6,077,000
|
| Maturity: | Jan. 22, 2021
|
| Coupon: | 5.15%, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index’s return is greater than or equal to negative 20%, par; otherwise, 1.25% loss for every 1% that lesser-performing index declines beyond 20%
|
| Call: | Automatically at par if each index closes at or above initial level on any semiannual observation date
|
| Initial levels: | 2,984.42 for S&P 500 and 1,550.778 for Russell 2000
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.05%
|
| Cusip: | 40435USY1
|
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