Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $887,000 autocallable notes with step-up premium on two indexes
By Kiku Steinfeld
Chicago, April 10 – HSBC USA Inc. priced $887,000 of 0% autocallable notes with step-up premium due Dec. 22, 2025 linked to the lesser 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 8.6% annual call premium if each index closes at or above its initial level on any annual observation date.
If the notes are not called, the payout will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable notes with step-up premium
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $887,000
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Maturity: | Dec. 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If notes are not called, par
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Call: | At par plus 8.6% annual call premium if each index closes at or above its initial level on any annual observation date
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Initial index levels: | 3,852.36 for S&P, 1,763.42 for Russell
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40441XYC8
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