Published on 1/15/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $380,000 autocallable yield notes linked to Russell, S&P
By Kiku Steinfeld
Chicago, Jan. 17 – HSBC USA Inc. priced $380,000 of 8.3% autocallable yield notes due March 22, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Beginning June 22, 2022, the notes will be called at par if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either index finishes below its initial level and either index closes below its trigger level, 75% of its initial level, during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $380,000
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| Maturity: | March 22, 2023
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| Coupon: | 8.3%, paid quarterly
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below initial level and either index closes below trigger level during life of notes, in which case 1% loss for every 1% that lesser-performing index declines from initial level
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| Call: | Beginning June 22, 2022, notes will be called at par if each index closes at or above initial level on any quarterly call observation date
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| Initial index levels: | 4,620.64 for S&P 500 and 2,173.931 for Russell 2000
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| Trigger levels: | 3,465.48 for S&P 500 and 1,630.44825 for Russell 2000; 75% of initial levels
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40439JVK8
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