Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $155,000 contingent income barrier autocalls with memory on Nasdaq, Russell
Chicago, Nov. 1 – HSBC USA Inc. priced $155,000 of autocallable contingent income barrier notes with memory coupon due June 30, 2022 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if each index closes at or above its coupon trigger level, 75% of its initial level, on the observation date for that period, plus any previously unpaid coupons.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not called and each index finishes at or above its 75% barrier value, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable contingent income barrier notes with memory coupon
|
Underlying indexes: | Nasdaq-100 and Russell 2000
|
Amount: | $155,000
|
Maturity: | June 30, 2022
|
Coupon: | 7% per year, payable quarterly if each index closes at or above coupon trigger on observation date for that period, plus any previously unpaid coupons
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above barrier level, par; otherwise, full exposure to decline of least-performing index
|
Call: | At par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
|
Initial levels: | 12,979.12 for Nasdaq, 2,221.482 for Russell
|
Coupon triggers: | 9,734.34 for Nasdaq, 1,666.1115 for Russell, 75% of initial levels
|
Barrier levels: | 9,734.34 for Nasdaq, 1,666.1115 for Russell, 75% of initial levels
|
Pricing date: | March 26
|
Settlement date: | March 31
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 1.525%
|
Cusip: | 40438C3K5
|
© 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.