By Tali Rackner
Norfolk, Va., April 29 – HSBC USA Inc. priced $775,000 of 0% autocallable growth barrier notes due April 30, 2019 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 15% of the return if the fund closes above the 110% call level on April 27, 2017.
The payout at maturity will be par plus 150% of any fund gain.
Investors will receive par if the fund falls by up to 25% and will be fully exposed to any losses if the fund finishes below the 75% barrier level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable growth barrier notes
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| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $775,000
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| Maturity: | April 30, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund return is greater than zero, par plus 150% of the return; if fund return is less than or equal to zero but greater than or equal to negative 25%, par; if return is less than negative 25%, full exposure to fund’s decline
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| Call: | Automatically at 115% of par if fund’s closing level on April 27, 2017 is greater than $74.05 (110% of initial level)
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| Initial level: | $67.32
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40433ULC8
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