Published on 5/23/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.28 million 10.5% autocallable yield notes tied to Apple, Coke, AMD
By William Gullotti
Buffalo, N.Y., May 23 – HSBC USA Inc. priced $1.28 million of 10.5% autocallable yield notes due May 23, 2024 linked to the stock performance of Apple Inc., Coca-Cola Co. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call date.
The payout at maturity will be par unless any stock finishes below its 50% trigger price, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the issuer’s option, the cash equivalent.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying stocks: | Apple Inc., Coca-Cola Co., Advanced Micro Devices, Inc.
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Amount: | $1,276,000
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Maturity: | May 23, 2024
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Coupon: | 10.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its 50% trigger price, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
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Call: | Automatically at par if stocks close at or above their initial levels on any quarterly call date
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Initial share prices: | $140.82 for Apple, $61.20 for Coke, $96.28 for AMD
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Trigger prices: | $70.41 for Apple, $30.60 for Coke, $48.14 for AMD; 50% of initial levels
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Pricing date: | May 18
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Settlement date: | May 23
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 4%
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Cusip: | 40428HTD4
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