By Wendy Van Sickle
Columbus, Ohio, March 17 – HSBC USA Inc. priced $1 million of autocallable contingent income barrier notes due June 16, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.3% if the index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly coupon observation date after one year.
The payout at maturity will be par plus any final coupon unless the index finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1 million
|
| Maturity: | June 16, 2025
|
| Coupon: | 9.3%, payable quarterly if the index closes at or above coupon barrier on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger level, par plus any final coupon; otherwise, exposure to decline of index from its initial level
|
| Call: | At par plus coupon if the index closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | 3,855.76
|
| Coupon barrier level: | 2,699.032; 70% of initial level
|
| Trigger level: | 2,699.032; 70% of initial level
|
| Pricing date: | March 13
|
| Settlement date: | March 16
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40441XZ78
|
|
|
© 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.
