By William Gullotti
Buffalo, N.Y., Sept. 28 – HSBC USA Inc. priced $1.99 million of 0% autocallable market-linked step-up notes due Sept. 27, 2024 linked to the iShares Global Clean Energy ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9.95% if the ETF closes at or above its initial level on any annual call date.
If the ETF finishes above the step-up value, 130% of the initial level, the payout at maturity will be par of $10 plus the ETF gain.
If the ETF finishes flat or gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
Otherwise, investors will lose 1% for every 1% decline of the ETF from its initial level.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying ETF: | iShares Global Clean Energy ETF
|
| Amount: | $1,988,510
|
| Maturity: | Sept. 27, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF finishes above the step-up level, par plus the ETF gain; if the ETF finishes flat or gains up to the step-up level, par plus 30%; otherwise, 1% loss for every 1% decline from the ETF’s initial level
|
| Call: | At par plus 9.95% per year if the ETF closes at or above its initial level on any annual observation date
|
| Initial level: | $22.69
|
| Step-up value: | $29.50; 130% of initial level
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 30
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
|
|
| Cusip: | 40438Q142
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
