Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $50,000 autocallable buffered notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., June 28 – HSBC USA Inc. priced $50,000 of 0% autocallable buffered notes with step-up premium due July 29, 2027 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9% per year if each index closes at or above its initial level on any annual call observation date.
If the notes are not called, the payout at maturity will be par unless the lesser-performing index’s return is less than negative 15%, in which case investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable buffered notes with step-up premium
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Underlying indexes: | S&P 500 index and Russell 2000 index
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Amount: | $50,000
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Maturity: | July 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless lesser-performing index’s return is less than negative 15%, in which case 1% loss for every 1% that lesser-performing index declines beyond 15%
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Call: | Automatically at par plus 9% per year if each index closes at or above initial level on any annual call observation date
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Initial levels: | 3,921.05 for S&P and 1,805.246 for Russell
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Buffer levels: | 85% of initial levels
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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.
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Fees: | 3.75%
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Cusip: | 40441XCZ1
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