New York, Sept. 29 – HSBC USA Inc. priced $2.00 million of 0% autocallable notes due Sept. 28, 2017 linked to a basket made up of equal weights of the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at a call premium of 7% per annum if the basket closes at or above its initial value on each of the annual call dates or at maturity.
If the basket finishes below its initial level at maturity, investors will receive par if the basket loses up to 10% and will lose 1% for each 1% decline beyond 10%.
HSBC said that its estimated initial value for the notes, based on its internal funding rate, is $977.50 per $1,000 principal amount.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable notes
|
| Underlying basket: | S&P 500 and iShares MSCI Emerging Markets exchange-traded fund, equally weighted
|
| Amount: | $2,004,000
|
| Maturity: | Sept. 28, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless the basket closes below 90% of its initial value, in which case 1% loss for every 1% that basket declines beyond 10%
|
| Call: | Automatically at par plus a premium of 7% per annum if the basket closes at or above its initial level on any annual call observation date or at maturity
|
| Initial index levels: | 1,965.99 for S&P 500 and $42.23 for ETF
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40433BNS3
|
|
|
© 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.
