Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $874,000 11.4% autocallable contingent income barrier notes on Chevron
Chicago, April 27 – HSBC USA Inc. priced $874,000 of autocallable contingent income barrier notes due Sept. 1, 2023 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.4%, paid monthly, if the underlying stock closes at or above its 74% barrier level on the related monthly observation date.
The securities will be called automatically starting Nov. 28, 2022 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date.
The payout at maturity will be par if the stock ends at or above its 74% barrier value. Otherwise, investors will lose 1% for every 1% that the stock declines, payable as shares of Chevron.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes
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| Underlying stock: | Chevron Corp.
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| Amount: | $874,000
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| Maturity: | Sept. 1, 2023
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| Coupon: | 11.4% annual rate, paid monthly, if the underlying stock closes at or above its 74% barrier level on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value, payable as Chevron shares
|
| Call: | Automatically starting Nov. 28, 2022 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date
|
| Initial level: | $176.59
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| Coupon barrier: | $130.6766, 74% of initial level
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| Barrier level: | $130.6766, 74% of initial level
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| Pricing date: | May 26, 2022
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| Settlement date: | June 1, 2022
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40428HTF9
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