New York, May 10 – HSBC USA Inc. priced $3.76 million of 5.1% worst of autocallable notes due Nov. 13, 2018 linked to the worse performing of the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semi-annually.
The notes will be called at par if each underlying asset closes at or above its initial level on any observation date until May 9, 2018.
The payout at maturity will be par unless either index declines by more than its 20% buffer value in which case investors will lose 1.25% for each 1% loss of the worse performing index beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Worst of autocallable fixed-rate notes
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| Underlying assets: | Russell 2000 index, iShares MSCE EAFE ETF
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| Amount: | $3.76 million
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| Maturity: | Nov. 13, 2018
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| Issue price: | Par
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| Coupon: | 5.1% annualized, payable semi-annually
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| Payout at maturity: | Par unless either index falls by more than 20% buffer, in which case 1.25% loss per 1% decline of worst performing index beyond 20%
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| Call: | At par if each index closes at or above initial level on any observation date ending on May 9, 2018
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| Initial index levels: | 1,391.639 for Russell 2000, $65.10 for iShares MSCI EAFE
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| Buffer value: | 20%
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| Pricing date: | May 8
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| Settlement date: | May 11
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40433U4R4
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