Published on 10/31/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.51 million 7.05% trigger callable yield notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., Oct. 31– HSBC USA Inc. priced $11.51 million of 7.05% trigger callable yield notes due Jan. 31, 2024 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 of $10 unless the index finishes below its 55% trigger level, in which case 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.
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Issue: | Trigger callable yield notes
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Underlying index: | S&P 500 index
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Amount: | $11,508,000
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Maturity: | Jan. 31, 2024
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Coupon: | 7.05%, payable monthly
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Price: | Par of $10
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Payout at maturity: | If the index finishes at or above trigger level, par; otherwise, full exposure to decline from initial level
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Call option: | At par on any coupon payment date after three months
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Initial level: | 3,830.6
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Trigger level: | 2,106.83; 55% of initial level
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40441B850
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