Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $669,000 9.95% contingent income autocallables linked to Taiwan Semiconductor
New York, June 26 – HSBC USA Inc. priced $669,000 of autocallable contingent income barrier notes with memory coupon due July 29, 2025 linked to the common shares of Taiwan Semiconductor Manufacturing Co., Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.95%, paid quarterly, if the underlying stock closes at or above its 60% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The payout at maturity will be par if the stock ends at or above its 60% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting on Jan. 25, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Taiwan Semiconductor Manufacturing Co., Ltd.
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| Amount: | $669,000
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| Maturity: | July 29, 2025
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| Coupon: | 9.95%, paid quarterly, if the underlying stock closes at or above its 60% barrier level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting on Jan. 25, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date
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| Initial level: | $84.42
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| Coupon barrier: | $50.652, 60% of initial level
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| Barrier level: | $50.652, 60% of initial level
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
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| Cusip: | 40441XEX4
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