Published on 7/8/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.49 million autocallable barrier notes with step-up premium on four stocks
By Wendy Van Sickle
Columbus, Ohio, July 8 – HSBC USA Inc. priced $3.49 million of 0% autocallable barrier notes with step-up premium due July 8, 2024 linked to the least performing of the common stocks of Apple Inc., American Airlines Group Inc., Novavax, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 26.2% annualized call premium if each stock closes at or above 85% of its initial level on any quarterly observation date.
The payout will be par unless any stock finishes below its 65% 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: | Apple Inc., American Airlines Group Inc., Novavax, Inc., JPMorgan Chase & Co.
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| Amount: | $3.49 million
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| Maturity: | July 8, 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
|
| Call: | At par plus 26.2% annualized premium if each stock closes at or above 85% of its initial level on any quarterly observation date
|
| Initial levels: | $136.96 for Apple, $21.21 for American Airlines, $212.31 for Novavax, $155.54 for JPMorgan
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| Barrier levels: | $89.024 for Apple, $13.7865 for American Airlines, $138.0015 for Novavax, $101.101 for JPMorgan; 65% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 4%
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| Cusip: | 40439JEK7
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