By Sarah Lizee
Olympia, Wash., July 30 – HSBC USA Inc. priced $700,000 of 0% autocallable step-up notes due July 30, 2021 linked to the HSBC Vantage5 Index (USD) Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 5.25% per year if the index closes at or above the applicable call threshold on an annual call observation date. The call threshold will be 103.75% of the initial level for the July 25, 2019 observation date, stepping up by 375 basis points each year to a final call threshold of 111.25% of the initial level for the July 27, 2021 observation date.
The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable step-up notes
|
| Underlying index: | HSBC Vantage5 Index (USD) Excess Return
|
| Amount: | $700,000
|
| Maturity: | July 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 5.25% annual premium of index closes at or above threshold level on an annual call date; threshold level is 103.75% of initial level on first call date and steps up by 375 basis points each year
|
| Payout at maturity: | Par plus any index gain; if the index falls, par
|
| Initial level: | 152.368
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.75%
|
| Cusip: | 40435FV38
|
© 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.
