Published on 8/23/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.83 million autocallable barrier notes with step-down call level on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – HSBC USA Inc. priced $1.83 million of 0% autocallable barrier notes with step-down call threshold feature due Aug. 27, 2024 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 10% annualized premium if each index closes at or above its call level on any annual observation date after one year. The call level will be 100% of the initial level on the first through fifth observation dates and 70% of the initial level on the sixth and final observation date.
The payout at maturity will be par plus the return of the least-performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-down call threshold feature
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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| Amount: | $1,825,000
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| Maturity: | Aug. 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus return of least-performing index
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| Call: | At par plus 10% annualized premium if each index closes at or above initial level on first through fifth annual observation date and 70% of initial level on final observation date
|
| Initial index levels: | 25,758.69 for Dow, 2,857.05 for S&P and 1,698.693 for Russell
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| Trigger levels: | 18,031.083 for Dow, 1,999.935 for S&P and 1,189.0851 for Russell; 70% of initial levels
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 27
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40435FW37
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