Published on 8/6/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2 million autocallable contingent income barrier notes on two stocks
By Kiku Steinfeld
Chicago, Aug. 6 – HSBC USA Inc. priced $2 million of autocallable contingent income barrier notes due July 21, 2023 linked to the least performing of the common stocks of Roku, Inc. and Trade Desk, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 10% if each stock closes at or above its coupon trigger level, 60% of its initial level, on the observation date for that period.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and each stock finishes at or above its 50% barrier value, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stocks: | Roku, Inc., Trade Desk, Inc.
|
| Amount: | $2 million
|
| Maturity: | July 21, 2023
|
| Coupon: | 10% per year, payable monthly if each stock closes at or above coupon trigger on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above barrier level, par; otherwise, full exposure to decline of least-performing stock
|
| Call: | At par plus coupon if each stock closes at or above initial level on any monthly call observation date after three months
|
| Initial levels: | $399.99 for Roku, $70.62 for Trade Desk
|
| Coupon trigger levels: | $239.994 for Roku, $42.372 for Trade Desk; 60% of initial levels
|
| Barrier levels: | $199.995 for Roku, $35.31 for Trade Desk; 50% of initial levels
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.25%
|
| Cusip: | 40439JGA7
|
|
|
© 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.
