Published on 8/13/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10 million autocallable return notes linked to five stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – HSBC USA Inc. priced $10 million of 0% autocallable return notes due Aug. 2, 2024 linked to the common stocks of Amazon.com, Inc., Facebook, Inc., Alphabet Inc., Apple Inc. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 13.5% 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 40.5% unless any asset finishes below the trigger level, 60% 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: | Amazon.com, Inc., Facebook, Inc., Alphabet Inc., Apple Inc. and Goldman Sachs Group, Inc.
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| Amount: | $10 million
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| Maturity: | Aug. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 40.5% 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 13.5% a year if each asset closes at or above initial level on any annual call date
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| Initial index level: | $145.86 for Apple, $3,327.59 for Amazon.com, $356.30 for Facebook, $2,694.53 for Alphabet and $374.88 for Goldman Sachs
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| Trigger level: | $87.516 for Apple, $1,996.554 for Amazon.com, $213.78 for Facebook, $1,616.718 for Alphabet and $224.928 for Goldman Sachs; 60% of initial level
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| Pricing date: | July 30
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| Settlement date: | Aug. 5
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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: | 1%
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| Cusip: | 40439JJC0
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