By Marisa Wong
Madison, Wis., Sept. 17 - HSBC USA Inc. priced $2.76 million of 0% autocallable notes due Sept. 19, 2016 linked to a basket of two equally weighted components, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund.
The notes will be called at par plus a premium of 8% annualized if the basket closes at or above its initial level on any annual call date.
The payout at maturity will be par if the basket falls by 10%. Otherwise, investors will lose 1% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable notes
|
| Underlying basket: | S&P 500 index and iShares MSCI Emerging Markets exchange-traded fund
|
| Amount: | $2,755,000
|
| Maturity: | Sept. 19, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if basket falls by 10% or less; otherwise, 1% loss for each 1% decline beyond 10%
|
| Call: | Automatically at par plus 8% per year if basket closes at or above its initial level on any annual call date
|
| Initial levels: | 1,687.99 for index, $41.16 for ETF
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 18
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40432XKP5
|
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