Chicago, June 15 – HSBC USA Inc. priced $614,000 of autocallable contingent income barrier notes due June 8, 2023 linked to the performance of Affirm Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 16.25% if the stock closes at or above the coupon trigger level, 60% of the initial share price, on the relevant observation date. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the stock closes at or above 80% of the initial share price on any monthly observation date after three months.
The payout at maturity will be par plus any final coupon unless the stock finishes below its 50% barrier price, in which case investors will be fully exposed to the decline in the stock from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
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| Underlying stock: | Affirm Holdings, Inc.
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| Amount: | $614,000
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| Maturity: | June 8, 2023
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| Coupon: | 16.25%, payable monthly if the stock closes at or above coupon trigger level on the relevant observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon unless stock closes below barrier price; in which case full exposure to losses
|
| Call: | At par plus coupon if the stock closes at or above 80% of initial price on any monthly observation date after three months
|
| Initial price: | $107.24
|
| Coupon barrier price: | $64.344; 60% of initial price
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| Final barrier price: | $53.62; 50% of initial price
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| Pricing date: | Dec. 3, 2021
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| Settlement date: | Dec. 8, 2021
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.875%
|
| Cusip: | 40439JUT0
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