By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – HSBC USA Inc. priced $170,000 of autocallable contingent income barrier notes with memory coupon due Jan. 24, 2022 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission
If each index closes at or above its coupon barrier, 80% of its initial level, on a monthly observation date, the notes will pay a contingent coupon for that month at an annual rate of 8.8%, plus any previously unpaid contingent coupons.
The notes will be called at par if each index closes at or above its initial level on any coupon observation date after six months.
The payout at maturity will be par unless either index closes below the trigger, 80% of the initial level, in which case investors will be fully exposed to the losses of the worse-performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
|
| Underlying indexes: | Russell 2000 index and Nasdaq-100 index
|
| Amount: | $170,000
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| Maturity: | Jan. 24, 2022
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| Coupon: | 8.8% per year, payable monthly plus any previously unpaid coupons if each index closes at or above coupon barrier on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, exposure to decline of worse-performing index
|
| Call: | At par if each index closes at or above initial level on any monthly call observation date after six months
|
| Initial levels: | 12,738.18 for Nasdaq and 1,969.986 for Russell
|
| Coupon barriers: | 80% of initial levels
|
| Trigger levels: | 80% of initial levels
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| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40438CG70
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