By Kiku Steinfeld
Chicago, Aug. 3 – HSBC USA Inc. priced $10.94 million of 0% autocallable barrier notes with step-up premium due July 29, 2024 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 100% of its initial level on any annual call date. The call premium is 9% per year.
If the notes are not called and the index finishes at or above its 75% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the index.
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: | $10,944,000
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| Maturity: | July 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the index finishes at or above its barrier level, par; otherwise, investors will be fully exposed to the decline of the index
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| Call: | At par plus a call premium if index closes at or above 100% of its initial level on any annual call date; call premium is 9% per year
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| Initial index level: | 3,215.63
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| Barrier level: | 75% of initial levels
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2%
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| Cusip: | 40438CPY1
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