By Susanna Moon
Chicago, May 4 – HSBC USA Inc. priced $6.29 million of 6% worst-of autocallable fixed-rate notes due Oct. 30, 2019 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable semiannually.
Starting Oct. 25, 2018, the notes will be automatically called at par plus the coupon if each underlying index closes at or above its initial level on any observation date.
The payout at maturity will be par unless either index falls by more than 20%, in which case investors will lose 1.25% for each 1% decline of the worse performing index beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Worst-of autocallable fixed-rate notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $6,293,000
|
| Maturity: | Oct. 30, 2019
|
| Coupon: | 6%, payable semiannually
|
| Price: | Par
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any semiannual observation date
|
| Payout at maturity: | Par unless either index falls by more than 20%, in which case 1.25% loss per 1% decline of worse performing index beyond 20%
|
| Initial levels: | 1,550.467 for Russell and 2,639.40 for S&P
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.05%
|
| Cusip: | 40435FZX8
|
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