Published on 3/16/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2 million contingent income barrier notes on three stocks
Chicago, March 16 – HSBC USA Inc. priced $2 million of contingent income barrier notes due March 1, 2023 linked to the least performing of the equity securities of Nvidia Corp., Crowdstrike Holdings, Inc. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 19.85% if each stock closes at or above its coupon barrier level, 75% of the initial level, on the determination date for that period.
If the notes are not called and each stock finishes at or above its 75% trigger level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the least performing stock.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Contingent income barrier notes
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| Underlying stocks: | Nvidia Corp., Crowdstrike Holdings, Inc. and Advanced Micro Devices, Inc.
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| Amount: | $2,000,000
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| Maturity: | March 1, 2023
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| Coupon: | 19.85% annual rate, payable quarterly if each stock closes at or above coupon barrier level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above trigger level, par; otherwise, full exposure to loss of worst performing stock
|
| Initial levels: | $203.65 for Nvidia, $104.35 for Crowdstrike, $75.40 for AMD
|
| Coupon barrier levels: | $152.7375 for Nvidia, $78.2625 for Crowdstrike, $56.55 for AMD; 75% of initial prices
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| Barrier levels: | $152.7375 for Nvidia, $78.2625 for Crowdstrike, $56.55 for AMD; 75% of initial prices
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.6%
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| Cusip: | 40441XD72
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