By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – HSBC USA Inc. priced $2.6 million of 0% autocallable return notes due Oct. 31, 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 a call premium of 5.15% a year if the index closes at or above its initial level on any annual call date.
If the notes are not called, the payout at maturity will be par unless the index finishes below the trigger level, 70% of the initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable return notes
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| Underlying index: | S&P 500
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| Amount: | $2.6 million
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| Maturity: | Oct. 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless index finishes below trigger level, in which case 1% loss for every 1% that index declines from initial level
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| Call: | Automatically at par plus call premium of 5.15% a year if index closes at or above initial level on any annual call date
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| Initial index level: | 3,022.55
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| Trigger level: | 2,115.79, 70% of initial level
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 40435UH80
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