By Wendy Van Sickle
Columbus, Ohio, June 10 – HSBC USA Inc. priced $10 million of 0% autocallable return notes due June 7, 2023 linked to the common stocks of Marriott International, Inc. and Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 21.65% a year if each asset 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 plus 64.95% unless any asset finishes below the trigger level, 50% of the initial level, in which case investors will lose 1% for every 1% that the least performing asset 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 assets: | Marriott International, Inc. and Las Vegas Sands Corp.
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| Amount: | $10 million
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| Maturity: | June 7, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 64.95% unless any asset finishes below trigger level, in which case 1% loss for every 1% that the least performing asset declines from initial level
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| Call: | Automatically at par plus call premium of 21.65% a year if each asset closes at or above initial level on any annual call date
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| Initial index level: | $99.90 for Marriott and $51.79 for Las Vegas Sands
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| Trigger level: | $49.95 for Marriott and $25.895 for Las Vegas Sands; 50% of initial level
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| Pricing date: | June 3
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| Settlement date: | June 9
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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: | 0.55%
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| Cusip: | 40438CLS8
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