By Wendy Van Sickle
Columbus, Ohio, June 30 – HSBC USA Inc. priced $5.8 million of 0% market-linked step-up notes due June 29, 2023 tied to the Stoxx Europe 600 Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
If the notes are not called and the index finishes above the step-up value, 131.52% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 31.52%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Stoxx Europe 600 Banks
|
| Amount: | $5,803,960
|
| Maturity: | June 29, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up value, par plus the index gain; if the index finishes at or below the step-up level but at or above the initial level, par plus 31.52%; full exposure to losses
|
| Initial index level: | 136.6
|
| Step-up value: | 179.66, 131.52% of initial value
|
| Pricing date: | June 24
|
| Settlement date: | July 1
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 40439K201
|
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