Published on 8/17/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.69 million trigger autocallable gears tied to S&P 500
By William Gullotti
Buffalo, N.Y., Aug. 17 – HSBC USA Inc. priced $2.69 million of 0% trigger autocallable gears due Aug. 15, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 12.85% call premium if the index closes at or above its initial level on Aug. 18, 2023.
The payout at maturity will be par of $10 plus 1.25 times any index gain.
If the index falls by up to 25%, the payout will be par. Otherwise, investors will be fully exposed the index’s decline from initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger autocallable gears
|
| Underlying index: | S&P 500 index
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| Amount: | $2,687,100
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| Maturity: | Aug. 15, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.25 times any index gain; if index falls by up to 25%, par; otherwise, 1% for each 1% decline from the initial level of the index
|
| Call: | Automatically at par plus a 12.85% call premium if the index closes at or above initial level on Aug. 18, 2023
|
| Initial level: | 4,280.15
|
| Downside threshold: | 3,210.11; 75% of initial level
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 17
|
| Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 40439N577
|
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