By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – HSBC USA Inc. priced $1.96 million of 0% Strategic Accelerated Redemption Securities due Aug. 26, 2022 linked to the worst performing of the common stocks of Citigroup Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 20% if each stock closes at or above its initial price on an annual observation date.
If the notes are not called, investors will lose 1% for every 1% decline of the least performing stock below its initial price.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Strategic Accelerated Redemption Securities
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| Underlying stocks: | Citigroup Inc., Goldman Sachs Group, Inc. and Wells Fargo & Co.
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| Amount: | $1.96 million
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| Maturity: | Aug. 26, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | 1% loss for every 1% decline of least performing stock
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| Call: | At par plus 20% per year if each stock closes at or above initial price on annual observation date
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| Initial prices: | $70.81 for Citi, $236.34 for Goldman, $58.62 for Wells Fargo
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 30
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| Agent: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 40435X448
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