Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.52 million autocallable buffered notes with step-up premium on index, ETF
By William Gullotti
Buffalo, N.Y., Sept. 26 – HSBC USA Inc. priced $5.52 million of 0% autocallable buffered notes with step-up premium due March 27, 2024 linked to the Nasdaq-100 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized 20.25% call premium if each underlier closes at or above initial level on any semiannual call observation date.
If the notes are not called, the payout will be par unless either underlier falls below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the worst performer beyond 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable buffered notes with step-up premium
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Underlying assets: | Nasdaq-100 index, iShares MSCI EAFE ETF
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Amount: | $5,522,000
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Maturity: | March 27, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the notes are not called, par unless either underlier falls below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the worst performer beyond 20%
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Call: | At par plus an annualized 20.25% call premium if each underlier closes at or above initial level on any semiannual call observation date
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Initial levels: | 11,637.79 for Nasdaq, $58.80 for ETF
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Buffer levels: | 9,310.232 for Nasdaq, $47.04 for ETF; 80% of initial levels
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Strike date: | Sept. 21
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40441XPM6
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