By Taylor Fox
New York, Feb. 22 – HSBC USA Inc. priced $1 million of 0% autocallable barrier notes with step-up premium due Feb. 12, 2024 linked to the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if the fund closes at or above its initial level on any semiannual call observation date. The call premium is 20.5% per year.
If the notes are not called and the fund finishes at or above its 65% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the fund.
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 fund: | iShares Global Clean Energy ETF
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| Amount: | $1 million
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| Maturity: | Feb. 12, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If not called and fund finishes at or above its 65% barrier level, par; otherwise, full exposure to losses
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| Call: | At par plus a call premium of 20.5% per year if fund closes at or above its initial level on any semiannual call date
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| Initial fund level: | $31.21
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| Barrier level: | $20.2865, 65% of initial level
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 12
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40438CX63
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