Published on 8/30/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.6 million step down trigger autocallables tied to indexes
By Susanna Moon
Chicago, Aug. 30 – HSBC USA Inc. priced $6.6 million of 0% step down trigger autocallable notes due Aug. 30, 2019 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of 8.9% if each index closes at or above its initial level on the first valuation date or at or above the 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of the worst performing index with full exposure to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
|
Issue: | Step down trigger autocallable notes
|
Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
Amount: | $6.6 million
|
Maturity: | Aug. 30, 2019
|
Coupon: | 0%
|
Price: | Par of $10
|
Call: | At par plus 8.9% per year if each index closes at or above its initial level on Sept. 4, 2018 or at or above 75% downside threshold on final valuation date
|
Payout at maturity: | 1% for each 1% decline of worst performing index
|
Initial index levels: | 2,438.97 for S&P, 1,373.875 for Russell and 3,446.03 for Stoxx
|
Downside thresholds: | 1,829.23 for S&P, 1,030.406 for Russell and 2,583.55 for Stoxx; 75% of initial levels
|
Pricing date: | Aug. 24
|
Settlement date: | Aug. 31
|
Underwriters: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
Fees: | 1.25%
|
Cusip: | 40435G519
|
|
|
|
|
© 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.