Published on 9/4/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $263,000 autocallable barrier notes with step-up premium on Russell, EM ETF
By Kiku Steinfeld
Chicago, Sept. 6 – HSBC USA Inc. priced $263,000 of 0% autocallable barrier notes with step-up premium due Jan. 26, 2026 linked to the lesser performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if each asset closes at or above its initial level on any annual observation date. The call premium is 9.5% per year.
The payout will be par unless any asset has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing asset from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
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Amount: | $263,000
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Maturity: | Jan. 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either asset has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing asset from its initial level
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Call: | At par plus a call premium if each asset closes at or above its initial level on any annual observation date; call premium is 9.5% per year
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Initial index levels: | 1,987.918 for index, $49 for ETF
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Barrier levels: | 1,391.5426 for index, $34.30 for ETF; 70% of initial levels
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Pricing date: | Jan. 21, 2022
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Settlement date: | Jan. 26, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40439JXE0
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