By Wendy Van Sickle
Columbus, Ohio, Dec. 21 – HSBC USA Inc. priced $1.21 million of 0% autocallable market-linked step-up notes due Dec. 22, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus a call premium of 10.4% per year if the index closes at or above the initial index level on any semiannual observation date.
If the notes are not called and the final index level is greater than the step-up value, 130% of the initial index level, the payout at maturity will be par plus the index return.
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, 30%.
Investors will be fully exposed to any index decline.
HSBC USA Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
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| Amount: | $1,207,000
|
| Maturity: | Dec. 22, 2020
|
| 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 30%; otherwise, full exposure to any index decline
|
| Call: | At par plus 10.4% per year if index closes at or above initial index level on any semiannual observation date
|
| Initial index level | 3,582.22
|
| Step-up value: | 130% of initial level
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 21
|
| Agent: | HSBC USA Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40435FNT0
|
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