Published on 9/23/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.23 million 11.1% autocallable yield notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – HSBC USA Inc. priced $4.23 million of 11.1% autocallable yield notes due Dec. 26, 2023 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call date after one year.
The payout at maturity will be par unless any index finishes below its 75% trigger level, in which case investors will be fully exposed to the decline of the worst performer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying assets: | S&P 500 index, Russell 2000 index
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Amount: | $4.23 million
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Maturity: | Dec. 26, 2023
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Coupon: | 11.1%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its 75% trigger level, in which case full exposure to decline of the worst performer
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Call: | Automatically at par if each index closes at or above initial level on any quarterly call date after one year
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Initial levels: | 3,855.93 for S&P, 1,787.504 for Russell
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Trigger levels: | 2,891.9475 for S&P, 1,340.628 for Russell, 75% of initial levels
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Pricing date: | Sept. 20
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Settlement date: | Sept. 23
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40441XNQ9
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