Published on 7/11/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.3 million trigger callable yield notes on S&P
By Wendy Van Sickle
Columbus, Ohio, July 11 – HSBC USA Inc. priced $4.3 million of 8.75% trigger callable yield notes due Oct. 12, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par unless the index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the index.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger callable yield notes
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Underlying index: | S&P 500
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Amount: | $4,304,700
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Maturity: | Oct. 12, 2023
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Coupon: | 8.75% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline of index
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Call option: | At par on any coupon date starting after three months
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Initial level: | 3,845.08
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Downside threshold: | 2,307.048; 60% of initial level
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Pricing date: | July 6
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Settlement date: | July 11
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Underwriter: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40390L180
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