By Sarah Lizee
Olympia, Wash., March 3 – HSBC USA Inc. priced $46.91 million of 0% market-linked step-up autocallable notes due Feb. 27, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.
The notes will be called at par plus an annual call premium of 9.55% if the index closes at or above its initial level on any annual call date.
If the index finishes above the step-up level – 121% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 21%.
Investors will be exposed to any losses.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step-up autocallable notes
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| Underlying index: | S&P 500
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| Amount: | $46,910,510
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| Maturity: | Feb. 27, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains by up to the step-up level, par plus 21%; full exposure to any losses
|
| Call: | At par plus 9.55% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 2,978.76
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| Step-up level: | 3,604.30, 121% of initial level
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 6
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 40438G102
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