By Angela McDaniels
Tacoma, Wash., Nov. 29 – HSBC USA Inc. priced $7.89 million of 0% market-linked step-up notes due Nov. 22, 2019 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level will be the lowest closing level of the index during the period from and including the pricing date to and including Dec. 22.
If the final index level is greater than the step-up value, the payout at maturity will be par of $10 plus the index return. The step-up value is 121.2% of the initial index level.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 21.2%.
If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $7,889,690
|
| Maturity: | Nov. 22, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 21.2%; if final index level is less than initial level, one-to-one exposure to decline
|
| Initial index level: | Lowest closing index level during period from and including pricing date to and including Dec. 22
|
| Step-up value: | 121.2% of initial level
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 30
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 40435B395
|
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