New Issue: HSBC prices $510,000 callable contingent income barrier notes linked to ConocoPhillips

By Angela McDaniels

Tacoma, Wash., April 20 – HSBC USA Inc. priced $510,000 of callable contingent income barrier notes due Feb. 1, 2023 linked to the common stock of ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a coupon at the rate of 10% per year if the stock closes at or above its coupon barrier level, 55% of its initial share price, on the observation date for that quarter.

The payout at maturity will be par unless the stock finishes below its barrier level, 55% of its initial share price, in which case investors will receive a number of shares of ConocoPhillips stock equal to $1,000 divided by the initial share price.

The notes are callable at par quarterly.

The agent is HSBC Securities (USA) Inc.

Issuer:	HSBC USA Inc.
Issue:	callable contingent income barrier notes
Underlying stock:	ConocoPhillips
Amount:	$510,000
Maturity:	Feb. 1, 2023
Coupon:	10% per year, payable quarterly if stock closes at or above coupon barrier level on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless stock finishes below barrier level, in which case 8.726 ConocoPhillips shares
Call option:	At par quarterly
Initial share price:	$114.60
Coupon barrier level:	$63.03, or 55% of initial share price
Barrier level:	$63.03, or 55% of initial share price
Pricing date:	May 27, 2022
Settlement date:	June 2, 2022
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40428HTH5

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.