By Marisa Wong
Los Angeles, Dec. 29 – HSBC USA Inc. priced $19.65 million of 0% autocallable market-linked step-up notes due Dec. 27, 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a premium of 12.1% per year if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up value, 121% of the initial value, the payout at maturity will be par plus the index return.
If the index finishes at or below the step-up value but at or above the initial value, the payout will be par plus the step-up payment of 21%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50 index
|
| Amount: | $19,645,060
|
| Maturity: | Dec. 27, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up value, par plus the index return; if the index finishes at or below the step-up value but at or above the initial value, par plus 21%; full exposure to losses
|
| Call: | Automatically at par plus a premium of 12.1% per year if the index closes at or above its initial level on any annual observation date
|
| Initial value: | 4,217.06
|
| Step-up value: | 5,102.64, 121% of initial value
|
| Pricing date: | Dec. 22
|
| Settlement date: | Jan. 3
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 40439N601
|
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