Published on 12/23/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.88 million market participation notes with autocall feature on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – HSBC USA Inc. priced $2.88 million of 0% market participation notes with autocall feature due Dec. 23, 2025 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 10.65% premium if the index closes at or above its initial level on June 18, 2024.
If the return of the index is positive, the payout at maturity will be par plus the index return.
Otherwise, investors will receive par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market participation notes with autocall feature
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Underlying index: | S&P 500 index
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Amount: | $2,875,000
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Maturity: | Dec. 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes above its initial level, par plus the index return; otherwise, par
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Call: | At par plus a 10.65% premium if the index closes at or above its initial level on June 18, 2024
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Initial level: | 3,821.62
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Pricing date: | Dec. 20
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Settlement date: | Dec. 23
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40441XWG1
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