By Wendy Van Sickle
Columbus, Ohio, July 10 – HSBC USA Inc. priced $1.17 million of 0% autocallable market-linked step-up notes due June 23, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium of 11% per year if the index closes at or above the initial index level on any annual call date.
If the notes are not called and the final index level is greater than the step-up value, 140% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 40%.
If the final index level is less than the initial value, investors will lose 1% for every 1% that the index declines.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
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| Underlying index: | Euro Stoxx 50
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| Amount: | $1,169,000
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| Maturity: | June 23, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 30%; 1% loss for every 1% that index declines
|
| Call: | At par plus 11% per year if index closes at or above initial index level on an annual call date
|
| Initial index level: | 3,441.88
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| Step-up value: | 130% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
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| Cusip: | 40435FAL1
|
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