Published on 8/16/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.66 million 5.4% trigger callable yield notes linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., Aug. 16 – HSBC USA Inc. priced $3.66 million of 5.4% trigger callable yield notes due Aug. 16, 2023 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger callable yield notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $3,658,000
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Maturity: | Aug. 16, 2023
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Coupon: | 5.4%, payable monthly
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to the decline of the worst performer from its initial level
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Call option: | At par on any coupon payment date after three months
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Initial levels: | 4,447.7 for S&P, 2,250.343 for Russell
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Trigger levels: | 2,668.62 for S&P, 1,350.2058 for Russell; 60% of initial levels
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40439K433
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