Published on 3/17/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.33 million market participation notes with call feature on S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 17 – HSBC USA Inc. priced $3.33 million of 0% market participation notes with call feature due March 16, 2026 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 callable at par plus a 9.5% premium if the index closes above its initial level on Sept. 11, 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 call feature
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Underlying index: | S&P 500 index
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Amount: | $3,334,000
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Maturity: | March 16, 2026
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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 option: | At par plus a 9.5% premium if the index closes above its initial level on Sept. 11, 2024
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Initial level: | 3,855.76
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Pricing date: | March 13
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Settlement date: | March 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.525%
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Cusip: | 40441XS92
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