Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $269,000 autocallable barrier notes with step-up premium on indexes
By Kiku Steinfeld
Chicago, Sept. 27 – HSBC USA Inc. priced $269,000 of 0% autocallable barrier notes with step-up premium due March 20, 2026 linked to the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on March 15, 2024 on any quarterly observation date at a premium of 12.64% per year.
The payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $269,000
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Maturity: | March 20, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
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Initial levels: | 31,874.57 for Dow, 12,251.32 for Nasdaq, 1,745.945 for Russell
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Barrier levels: | 22,312.199 for Dow, 8,575.924 for Nasdaq, 1,222.1615 for Russell, 70% of initial level
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Call: | Automatically starting on March 15, 2024 on any quarterly observation date at a premium of 12.64% per year
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Pricing date: | March 15, 2023
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Settlement date: | March 20, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40441XZ94
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