By Kiku Steinfeld
Chicago, Aug. 7– HSBC USA Inc. priced $2.85 million of 0% autocallable market plus notes due July 25, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus the index return if the closing level of the index is equal to or above the call level, 127% of its initial level on an annual observation date.
If not called, the payout at maturity will be par plus the index return if the index finishes at or above its initial level.
The payout will be par if the index declines by up to 55% of it is initial level.
If the index declines by more than 45%, investors will be fully exposed to losses.
HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,850,000
|
| Maturity: | July 25, 2024
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| Call: | Automatically at par plus index return if index closes at or above call level
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus index return if index finishes flat or above initial level; par if index declines by up to 45%; otherwise full exposure to losses
|
| Initial level: | 2,976.61
|
| Call level: | 3,780.29, 127% of initial level
|
| Trigger level | 1,637.14, 55% of initial level
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Agents: | HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 40435USW5
|
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