By Wendy Van Sickle
Columbus, Ohio, June 14 – HSBC USA Inc. priced $1.33 million of 0% autocallable market-linked step-up notes due June 27, 2025 linked to the Russell 2000 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 12.92% 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 level, 130% of the initial level, the payout at maturity will be par plus the index return.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 30%.
Investors will have full exposure to any index decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $1,331,840
|
| Maturity: | June 27, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index return; if the index finishes at or below the step-up level but at or above the initial level, par plus 30%; full exposure to decline
|
| Call: | Automatically at par plus a premium of 12.92% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 1,850.856
|
| Step-up level: | 2,406.113, 130% of initial level
|
| Pricing date: | June 9
|
| Settlement date: | June 16
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 40390L347
|
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