By Sarah Lizee
Olympia, Wash., July 13 – HSBC USA Inc. amended the call premium for its $3.45 million of 0% autocallable barrier notes with step-up premium due July 3, 2023 linked to the S&P 500 index, according to an amended 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if the index closes at or above 100% of its initial level on any annual call date. The call premium is 12% per year, up from 11.3% per year previously.
If the notes are not called and the index finishes at or above its 80% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable barrier notes with step-up premium
|
| Underlying index: | S&P 500 index
|
| Amount: | $3.45 million
|
| Maturity: | July 3, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the index finishes at or above its barrier level, par; otherwise, investors will be fully exposed to the decline of the index
|
| Call: | At par plus a call premium if index closes at or above 100% of its initial level on any annual call date; call premium is 12% per year
|
| Initial index level: | 3,009.05
|
| Barrier level: | 80% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 40438CMV0
|
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