By Susanna Moon
Chicago, Dec. 1 – HSBC USA Inc. priced $36.78 million of 0% autocallable market-linked step-up notes due Nov. 27, 2023 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at an annual call premium of 10.03% if the index closes at or above its initial level on any of the four annual observation dates.
If the index finishes above the step-up level – 140% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 40%.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline from the 85% threshold level if the index finishes below the threshold level.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable market-linked step-up notes
|
Underlying index: | Euro Stoxx 50
|
Amount: | $36,780,400
|
Maturity: | Nov. 25, 2022
|
Coupon: | 0%
|
Price: | Par of $10.00
|
Payout at maturity: | If index finishes above step-up level, par plus gain; if index gains up to step-up level, par plus 40%; par if index falls by up to 15%; exposure to any decline beyond 15%
|
Call: | At par plus 10.03% annualized if the index closes at or above its initial level on any annual observation date
|
Initial level: | 3,579.32
|
Step-up value: | 5,011.05, 140% of initial level
|
Pricing date: | Nov. 21
|
Settlement date: | Dec. 1
|
Underwriter: | BofA Merrill Lynch
|
Fees: | 2%
|
Cusip: | 40435H376
|
|
|
© 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.