By William Gullotti
Buffalo, N.Y., March 13 – HSBC USA Inc. priced $5.97 million of callable contingent income buffered notes due March 13, 2026 linked to the performance of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if each index closes at or above its trigger level, 72% of its initial level, on the observation date for that period.
The notes will be callable at par on any quarterly call observation date after one year.
The payout at maturity will be par plus the final coupon if each index finishes at or above its 72% buffer level.
Otherwise, investors will lose 1.3889% for every 1% decline of the worst performer beyond 28%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable contingent income buffered notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $5,966,000
|
| Maturity: | March 13, 2026
|
| Coupon: | 10%, payable monthly if each index closes at or above trigger level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above buffer level, par plus final coupon; otherwise, lose 1.3889% for every 1% decline of the worst performer beyond 28%
|
| Call option: | At par on any quarterly call observation date after one year
|
| Initial levels: | 12,215.33 for Nasdaq, 1,879.478 for Russell
|
| Trigger levels: | 72% of initial levels
|
| Buffer levels: | 72% of initial levels
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.1%
|
| Cusip: | 40441XZ29
|
|
|
© 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.
