By Marisa Wong
Morgantown, W.Va., Aug. 29 – HSBC USA Inc. priced $36.13 million of 0% autocallable market-linked step-up notes due Aug. 30, 2019 linked 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 a call premium of 8.65% per year if the index closes at or above its initial level on any annual call observation date.
If the notes are not called and the index finishes above the step-up value – 125% of the initial level – the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 25%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $36,131,700
|
| Maturity: | Aug. 30, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 25%; exposure to any losses
|
| Call: | At par plus a call premium of 8.65% per year if the index closes at or above its initial level on any annual call observation date
|
| Initial level: | 2,172.47
|
| Step-up value: | 2,715.59, 125% of initial level
|
| Pricing date: | Aug. 25
|
| Settlement date: | Sept. 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40434V152
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
