By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – HSBC USA Inc. priced $31.25 million Strategic Accelerated Redemption Securities due Aug. 27, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at a premium of 6.95% per year if the closing level of the index is greater than or equal to its starting value on any of the annual observation dates.
If the notes are not called, investors lose 1% for each 1% decline in the index.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500
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| Amount: | $31,248,610
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| Maturity: | Aug. 27, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to loss
|
| Call: | At par plus 6.95% a year if the closing level of the index is greater than or equal to its starting value on any annual observation date
|
| Initial level: | 4,470.0
|
| Agent: | BofA Merrill Lynch
|
| Pricing date: | Aug. 26
|
| Settlement date: | Sept. 3
|
| Fees: | 2%
|
| Cusip: | 40439K391
|
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