By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – HSBC USA Inc. priced $44.12 million of 0% autocallable market-linked step-up notes due Feb. 25, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 16.15% if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
Investors will be exposed to any index loss.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $44,120,670
|
| Maturity: | Feb. 25, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 30%; full exposure to losses
|
| Call: | At par plus 16.15% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 3,431.99
|
| Step-up value: | 4,461.59, 130% of initial level
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435J158
|
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