Published on 12/17/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.76 million step-down trigger autocallables on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – HSBC USA Inc. priced $3.76 million of 0% step-down trigger autocallable notes due Dec. 16, 2024 linked to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 8.6% a year if each index closes at or above its initial level on any quarterly observation date after one year or at or above its 70% trigger level on the final valuation date.
The payout at maturity will be par plus the return with full exposure to any losses of the worst performing index.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Russell 2000, S&P 500, Euro Stoxx 50
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| Amount: | $3.76 million
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| Maturity: | Dec. 16, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 8.6% annualized if each index closes at or above its call threshold level on any quarterly call observation date after one year; call threshold is equal to initial index levels for every call observation date except for final date, when threshold will be 70% of initial levels
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| Payout at maturity: | If notes are not called, full exposure to the decline of the worst performing index
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| Initial levels: | 1,637.976 for Russell, 3,168.8 for S&P, 3,731.07 for Stoxx
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| Trigger levels: | 1,146.16 for Russell, 2,218.16 for S&P, 2,611.75 for Stoxx; 70% of initial levels
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 18
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| Underwriters: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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| Fees: | 2%
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| Cusip: | 40438B327
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