By Sarah Lizee
Olympia, Wash., April 20 – HSBC USA Inc. priced $4.58 million of 0% autocallable barrier notes with step-up premium due April 17, 2024 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if each index closes at or above its initial level on the any annual observation date. The premium is 15.35% per year.
The payout will be par unless any index has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable barrier notes with step-up premium
|
| Underlying indexes: | S&P 500 index and Dow Jones industrial average
|
| Amount: | $4,577,000
|
| Maturity: | April 17, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless either index has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
|
| Call: | At par plus a call premium if each index closes at or above its initial level on any annual observation date; premium is 15.35% per year
|
| Initial index levels: | 2789.82 for S&P, 23719.37 for Dow
|
| Barrier levels: | 1952.874 for S&P, 16603.559 for Dow; 70% of initial levels
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| Pricing date: | April 9
|
| Settlement date: | April 17
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 40438CDQ1
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