Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $239,000 autocallable barrier notes with step-up premium on indexes
Chicago, May 17 – HSBC USA Inc. priced $239,000 of 0% autocallable barrier notes with step-up premium due June 28, 2027 linked to the least performing of the Russell 2000 index, Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on June 23, 2023 and on any subsequent annual observation date at a premium of 10.5% per year.
The payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying indexes: | Russell 2000 index, Dow Jones industrial average and S&P 500 index
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Amount: | $239,000
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Maturity: | June 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
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Call: | Automatically starting on June 23, 2023 and on any subsequent annual observation date at a premium of 10.5% per year
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Initial levels: | 30,483.13 for Dow, 1,690.277 for Russell, 3,759.89 for S&P
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Barrier levels: | 21,338.191 for Dow, 1,183.1939 for Russell, 2,631.923 for S&P, 70% of initial levels
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Pricing date: | June 22, 2022
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Settlement date: | June 27, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.625%
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Cusip: | 40441XAW0
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