Published on 12/24/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.62 million autocallable notes linked to Russell 2000
By Susanna Moon
Chicago, Dec. 24 – HSBC USA Inc. priced $3.62 million of 0% autocallable notes due Dec. 24, 2020 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 call premium of 8.5% per year if the index closes at or above the initial index level on any annual observation date.
If the index finishes at or above the initial index level, the payout at maturity will be the fixed payment of $14.25 per $10 note.
If the index falls by up to the 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable notes
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| Underlying index: | Russell 2000
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| Amount: | $3,615,000
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| Maturity: | Dec. 24, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gains, par plus 42.5%; if index falls by up to 25%, par; otherwise, full exposure to any losses
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| Call: | At par plus 8.5% per year if index closes at or above initial index level on Dec. 22, 2016, Dec. 21, 2017, Dec. 21, 2018 or Dec. 23, 2019
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| Initial index level: | 1,127.742
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| Trigger level: | 845.807, 75% of initial level
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 24
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40434K263
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