Published on 6/3/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $782,000 growth barrier autocallables tied to S&P 500 index
By Marisa Wong
Morgantown, W.Va., June 3 – HSBC USA Inc. priced $782,000 of 0% autocallable growth barrier notes due May 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 12% if the index closes above the 110% call level on May 26, 2017.
The payout at maturity will be par plus 120% of any index gain.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% barrier level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable growth barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $782,000
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| Maturity: | May 31, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than zero, par plus 120% of the return; if index return is less than or equal to zero but greater than or equal to negative 25%, par; if return is less than negative 25%, full exposure to index’s decline
|
| Call: | Automatically at par plus 12% if index’s closing level on May 26, 2017 is greater than 110% of initial level
|
| Initial level: | 2,090.54
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40433UMK9
|
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