Published on 4/13/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.83 million step-down trigger autocallables on Stoxx Banks, Stoxx 50
By Marisa Wong
Morgantown, W.Va., April 13 – HSBC USA Inc. priced $5.83 million of 0% step-down trigger autocallable notes due April 1, 2021 linked to the Euro Stoxx Banks index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 10.25% per year if each index closes at or above its initial level on any of the first two annual observation dates or if each index closes at or above its 70% downside threshold level on the final valuation date.
If the notes are not called, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Step-down trigger autocallable notes
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Underlying indexes: | Euro Stoxx Banks and Euro Stoxx 50
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Amount: | $4,827,500
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Maturity: | April 1, 2021
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Coupon: | 0%
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Price: | Par of $10
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Call: | At par plus 10.25% per year if each index closes at or above initial level on any of first two annual observation dates or if each index closes at or above downside threshold on final valuation date
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Payout at maturity: | 1% loss for each 1% decline of the worst performing index from initial level
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Initial levels: | 124.56 for Stoxx Banks, 3,316.95 for Stoxx 50
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Downside thresholds: | 87.192 for Stoxx Banks, 2,321.865 for Stoxx 50; 70% of initial levels
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Pricing date: | March 27
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Settlement date: | March 29
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Agent: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 40435M680
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