Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.8 million market participation notes with autocall feature on S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 16 – HSBC USA Inc. priced $2.8 million of 0% market participation notes with autocall feature due June 16, 2026 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 7.25% premium if the index closes at or above its initial level on Dec. 11, 2024.
If the return of the index is positive, the payout at maturity will be par plus the index return.
Otherwise, investors will receive par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market participation notes with autocall feature
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Underlying index: | S&P 500 index
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Amount: | $2,796,000
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Maturity: | June 16, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes above its initial level, par plus the index return; otherwise, par
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Call: | At par plus a 7.25% premium if the index closes at or above its initial level on Dec. 11, 2024
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Initial level: | 4,369.01
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.525%
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Cusip: | 40447ABM5
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