By William Gullotti
Buffalo, N.Y., June 30 – HSBC USA Inc. priced $6.61 million of 0% trigger autocallable notes due June 29, 2027 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11% annualized call premium if the index closes at or above its initial level on any quarterly observation date after one year.
If the index finishes at or above its initial level, the notes will be called at maturity at par plus 55%.
If the index declines but finishes at or above the downside threshold, 75% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,606,490
|
| Maturity: | June 29, 2027
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above its initial level, the notes will be called at par plus 55%; if the index declines but not below downside threshold, par; otherwise, 1% loss for each 1% decline of index from initial level
|
| Call: | After one year, at par plus an 11% annualized call premium if index closes at or above initial level on any quarterly observation date
|
| Initial level: | 3,911.74
|
| Downside threshold: | 2,933.805; 75% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40390L198
|
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