Published on 9/5/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.98 million step down trigger autocallables tied to indexes
By Susanna Moon
Chicago, Sept. 5 – HSBC USA Inc. priced $5.98 million of 0% step down trigger autocallable notes due Aug. 30, 2022 linked to the lesser performing of the S&P 500 index and 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 an annual call premium of 7.7% if each index closes at or above its initial level on the first, second, third or fourth date or at or above the 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of the worse performing index with full exposure to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Step down trigger autocallable notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $5.98 million
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Maturity: | Aug. 30, 2022
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Coupon: | 0%
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Price: | Par of $10
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Call: | At par plus 7.7% per year if each index closes at or above its initial level on first, second, third or fourth or at or above 75% downside threshold on final valuation date
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Payout at maturity: | 1% for each 1% decline of worse performing index
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Initial index levels: | 2,446.30 for S&P, 1,383.681 for Russell
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Downside thresholds: | 1,834.73 for S&P, 1,037.761 for Russell; 75% of initial levels
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Pricing date: | Aug. 29
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Settlement date: | Aug. 31
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Underwriters: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 40435G527
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