Published on 2/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $627,000 autocallable buffered notes with step-up premium on S&P, Russell
Chicago, Feb. 28 – HSBC USA Inc. priced $627,000 of 0% autocallable buffered notes with step-up premium due May 17, 2027 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11.5% annualized premium if the indexes close at or above their initial levels on any quarterly observation date starting after one year.
If the notes are not called, the payout will be par unless either index falls below 80% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser performing index 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 index: | S&P 500 index and Russell 2000 index
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Amount: | $627,000
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Maturity: | May 17, 2027
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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 index falls below 80% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser performing index beyond buffer
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Call: | At par plus 11.5% annualized premium if each index closes at or above its initial level on any quarterly observation date starting after one year
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Initial levels: | 1,739.382 for Russell, 3,930.08 for S&P
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Buffer levels: | 80% of initial levels
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Pricing date: | May 12, 2022
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Settlement date: | May 17, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.55%
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Cusip: | 40439J4N2
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