Published on 7/9/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.65 million autocallable barrier notes with step-up premium on S&P, ETF
By Kiku Steinfeld
Chicago, July 9 – HSBC USA Inc. priced $1.65 million of 0% autocallable barrier notes with step-up premium due May 28, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual 15% call premium if each underlier closes at or above its initial level on any semiannual observation date starting Nov. 23, 2021.
If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing asset from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable barrier notes with step-up premium
|
Underlying assets: | VanEck Vectors Gold Miners ETF, S&P 500 index
|
Amount: | $1,652,000
|
Maturity: | May 28, 2024
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par unless either underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing asset from its initial level
|
Call: | At par plus an annual 15% call premium if each underlier closes at or above its initial level on any semiannual observation date starting Nov. 23, 2021
|
Initial asset levels: | $39.43 for ETF, 4,197.05 for S&P
|
Barrier levels: | $27.601 for ETF, 2,937.935 for S&P; 70% of initial levels
|
Pricing date: | May 24
|
Settlement date: | May 27
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 2.5%
|
Cusip: | 40438C7M7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.