By Marisa Wong
Morgantown, W.Va., Sept. 28 – HSBC USA Inc. priced $1.1 million of 0% autocallable step-up notes due Sept. 19, 2025 linked to the HSBC Vantage5 Index (USD) Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 5% per year if the index closes at or above the applicable call threshold on an annual call observation date. The call threshold will be 101.5% of the initial level for the Sept. 16, 2019 observation date, stepping up by 150 basis points each year to a final call threshold of 109% of the initial level for the Sept. 16, 2024 observation date.
The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable step-up notes
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| Underlying index: | HSBC Vantage5 Index (USD) Excess Return
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| Amount: | $1.1 million
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| Maturity: | Sept. 19, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 5% annual premium of index closes at or above threshold level on an annual call date; threshold level is 101.5% of the initial level for the Sept. 16, 2019 observation date, stepping up by 150 bps each year to a final call threshold of 109% of the initial level for the Sept. 16, 2024 observation date
|
| Payout at maturity: | Par plus any index gain; if the index falls, par
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| Initial level: | 152.885
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 4.4%
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| Cusip: | 40435F3B1
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