Published on 6/29/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $10.69 million autocallable yield notes tied to S&P, Nasdaq
Chicago, June 29 – HSBC USA Inc. priced $10.69 million of autocallable yield notes due June 23, 2023 linked to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 5% per year, and interest will be payable semiannually.
The notes will be called at par if each index closes at or above its initial level on any semiannual call date after six months.
The payout at maturity will be par unless either index finishes below its buffer level, 80% of its initial level, in which case investors will lose 1.25% for every 1% that the least-performing index finishes falls by more than 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 and Nasdaq-100
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Amount: | $10,690,000
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Maturity: | June 23, 2023
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Coupon: | 5%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless either index finishes below buffer level, in which case 1.25% loss for every 1% that the least-performing index finishes falls by more than 20%
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Call: | At par if each index closes at or above the initial level on any semiannual call date after six months
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Initial levels: | 4,166.45 for S&P 500, 14,049.58 for Nasdaq
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Buffer levels: | 3,333.16 for S&P 500, 11,239.664 for Nasdaq, 80% of initial levels
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Pricing date: | June 18
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Settlement date: | June 24
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40439JDW2
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