By Marisa Wong
Morgantown, W.Va., April 16 – HSBC USA Inc. priced $18.16 million of 0% autocallable market-linked step-up notes due March 30, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on an annual observation date, the notes will be called at par plus a premium of 12.1% a year.
If the index finishes above the step-up level – 140% 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 40%.
Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $18,156,010
|
| Maturity: | March 30, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 12.1% a year premium if index closes at or above initial level on an annual observation date
|
| 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 40%; par if index falls by up to 15%; exposure to any losses beyond 15%
|
| Initial level: | 3,331.25
|
| Step-up value: | 4,663.75, 140% of initial level
|
| Threshold value: | 2,831.56, 85% of initial level
|
| Pricing date: | March 28
|
| Settlement date: | April 5
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40435M730
|
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