By William Gullotti
Buffalo, N.Y., Nov. 21 – HSBC Bank plc priced $68.16 million of 0% autocallable leveraged index-linked notes due Nov. 18, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a premium of 7.17% per year if the index closes at or above its call level on any annual observation date. Call level starts at 90% of initial level and steps up to 100% of initial level for the second and final review dates.
If the notes are not called and index return is zero or positive, the payout at maturity will be the greater of par plus 21.51% and par plus 200% of the return.
Investors will receive par if the index declines by 30% or less and will lose 1% for every 1% decline if it falls beyond 30%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC Bank plc
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| Issue: | Autocallable leveraged index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $68,155,000
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| Maturity: | Nov. 18, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes flat or gains, the greater of par plus 21.51% and par plus 200% of the return; par if index declines by 30% or less; otherwise, 1% loss for every 1% decline from initial level
|
| Call: | Automatically at par plus 7.17% per year if index closes at or above call level on the annual observation date; call level is equal to 90% of initial level on the first review date and steps up to 100% of initial level for the second and final dates
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| Initial level: | 4,508.24
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| Barrier level: | 70% of initial level
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 24
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3%
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| Cusip: | 40442B4D6
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