By Sarah Lizee
Olympia, Wash., March 25 – HSBC USA Inc. priced $1 million of 0% autocallable barrier notes with step-up premium due March 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if the index closes at or above its initial level on any annual call date. The call premium is 14.05% per year.
The payout will be par unless the index has finished below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-up premium
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | March 18, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless index has finished below barrier level, in which case investors will lose 1% for each 1% decline of index from its initial level
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| Call: | At par plus a call premium if index closes at or above its initial level on any annual call date; call premium is 14.05% per year
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| Initial index level: | 2,711.02
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| Barrier level: | 1,762.163; 65% of initial levels
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.5%
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| Cusip: | 40438CCH2
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