Published on 4/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8 million 12% contingent income autocallables on indexes
New York, April 28 – HSBC USA Inc. priced $8 million of contingent income autocallable securities due June 26, 2024 linked to the S&P 500 index, Nasdaq-100 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if each underlying index closes at or above its downside threshold, 70% of its initial level, on the related quarterly observation date.
The securities will be called automatically starting June 21 at par if each index closes at or above its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index finishes below its principal barrier level, 65% of its initial level, in which case investors will be fully exposed to the decline of the worst performing index.
HSBC Securities is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Euro Stoxx 50 index
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| Amount: | $8 million
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| Maturity: | June 26, 2024
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| Coupon: | 12%, paid quarterly, if each underlying index closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes below its principal barrier level, in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting June 21 at par if each index closes at or above its initial level on any quarterly call determination date
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| Initial levels: | 4,408.59 for Euro Stoxx 50, 13,000.77 for Nasdaq-100, 4,133.52 for S&P 500
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| Downside thresholds: | 3,086.013 for Euro Stoxx 50, 9,100.539 for Nasdaq-100, 2,893.464 for S&P 500, 70% of initial levels
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| Principal barriers: | 2,865.5835 for Euro Stoxx 50, 8,450.5005 for Nasdaq-100, 2,686.788 for S&P 500, 65% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | HSBC Securities
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| Fees: | 0%
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| Cusip: | 40441X5Q9
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