Published on 7/13/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $9.46 million trigger autocallable notes on S&P 500
By William Gullotti
Buffalo, N.Y., July 13 – HSBC USA Inc. priced $9.46 million of 0% trigger autocallable notes due July 13, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 7.34% per year if the index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the index finishes below the downside threshold, 80% of the initial level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger autocallable notes
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Underlying index: | S&P 500
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Amount: | $9,459,920
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Maturity: | July 13, 2023
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Coupon: | 0%
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Price: | Par of $10
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Call: | After six months, at par plus 7.34% per year if index closes at or above initial level on any quarterly observation date
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Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index from initial level
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Initial level: | 4,369.55
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Downside threshold: | 3,495.64; 80% of initial level
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Pricing date: | July 9
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Settlement date: | July 14
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Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 40439K714
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