Published on 7/10/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.2 million autocallable barrier notes on indexes
By Wendy Van Sickle
Columbus, Ohio, July 10 – HSBC USA Inc. priced $9.2 million of autocallable barrier notes due June 28, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 10% annualized call premium if each index closes above its initial level on any quarterly observation date.
The payout will be par unless each index has finished below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes
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Underlying indexes: | Euro Stoxx 50 and Dow Jones industrial average
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Amount: | $9,196,000
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Maturity: | June 28, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either index has finished below barrier level, in which case investors will lose 1% for each 1% decline of lesser-performing index from its initial level
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Call: | At par plus 10% annualized premium if each index closes at or above initial level on any quarterly observation date
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Initial index levels: | 3,369.21 for Stoxx, 24,252.8 for Dow
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Barriers: | 2,189.9865 for Stoxx, 15,764.32 for Dow; 65% of initial levels
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.85%
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Cusip: | 40435FH75
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