Published on 6/20/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.8 million autocallable market participation notes linked to S&P 500
By William Gullotti
Buffalo, N.Y., June 20 – 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 Notes and Exchange Commission.
The notes will be automatically called at par plus a 7.25% call 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 return.
Otherwise, investors will receive par.
HSBC Notes (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: | Automatically at par plus 7.25% call premium if the index closes at or above initial level on Dec. 11, 2024
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Initial level: | 4,369.01
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Pricing date: | June 13
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Settlement date: | June 16
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Agent: | HSBC Notes (USA) Inc.
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Fees: | 1.525%
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Cusip: | 40447ABM5
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