Published on 7/7/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.03 million autocallable barrier notes with step-up premium on four stocks
By William Gullotti
Buffalo, N.Y., July 7 – HSBC USA Inc. priced $1.03 million of 0% autocallable barrier notes with step-up premium due June 3, 2024 linked to the lesser performing of the common stocks of Ulta Beauty, Inc., Alphabet Inc., Five Below, Inc. and Nucor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 23.4% annualized call premium if each stock closes at or above 90% of its initial level on any quarterly observation date.
The payout will be par unless any stock finishes below its 60% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial 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 stocks: | Ulta Beauty, Inc., Alphabet Inc., Five Below, Inc., Nucor Corp.
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| Amount: | $1.03 million
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| Maturity: | June 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing stock from its initial level
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| Call: | At par plus 23.4% annualized premium if each stock closes at or above 90% of its initial level on any quarterly observation date
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| Initial levels: | $327.49 for Ulta, $2,433.53 for Alphabet, $185.75 for Five Below, $100.85 for Nucor
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| Barrier levels: | $196.494 for Ulta, $1,460.118 for Alphabet, $111.45 for Five Below, $60.51 for Nucor; 60% of initial levels
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 4%
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| Cusip: | 40439JBP9
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