By William Gullotti
Buffalo, N.Y., April 21 – HSBC USA Inc. priced $9.63 million of 0% autocallable trigger Performance Leveraged Upside Securities due April 24, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on April 26, 2023, the notes will be called at par plus an 11% call premium.
If the index finishes at or above its initial level, the payout at maturity will be par plus 125% of the gain, capped at par plus 66.9%.
If the index falls but finishes at or above the 75% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from initial level.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $9,634,850
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Maturity: | April 24, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus 125% of return, capped at par plus 66.9%; if index falls by up to 25%, par; otherwise, 1% loss per 1% decline from initial level
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Call: | Automatically at par plus an 11% call premium if the index closes at or above initial level on April 26, 2023
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Initial level: | 4,462.21
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Trigger level: | 3,346.6575; 75% of initial level
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Pricing date: | April 19
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Settlement date: | April 22
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 40390L594
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