Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $17.68 million 9.75% trigger callable yield notes linked to Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, April 24 – HSBC USA Inc. priced $17.68 million of 9.75% trigger callable yield notes due July 24, 2024 linked to the least performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger callable yield notes
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Underlying indexes: | Euro Stoxx 50 index, S&P 500 index
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Amount: | $17,684,130
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Maturity: | July 24, 2024
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Coupon: | 9.75%, payable monthly
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above trigger level, par; otherwise, full exposure to the decline of the worst performer from its initial level
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Call option: | At par on any coupon payment date after three months
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Initial levels: | 4,393.57 for Stoxx, 4,154.52 for S&P
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Trigger levels: | 2,636.14 for Stoxx, 2,492.71 for S&P; 60% of initial levels
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Pricing date: | April 19
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Settlement date: | April 24
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40441B502
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