Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $400,000 9.5% autocallable contingent income barrier notes on S&P
Chicago, Aug. 17 – HSBC USA Inc. priced $400,000 of autocallable contingent income barrier notes due July 28, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if the underlying index closes at or above its 80% barrier level on the related quarterly observation date.
The securities will be called automatically starting Oct. 25, 2022 at par and on any subsequent quarterly observation date if the index closes above its initial level.
The payout at maturity will be par if the index ends at or above its 80% barrier value. Otherwise, investors will lose 1% for every 1% that the index declines.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable contingent income barrier notes
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Underlying index: | S&P 500 index
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Amount: | $400,000
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Maturity: | July 28, 2025
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Coupon: | 9.5% annual rate, paid quarterly, if the underlying index closes at or above its 80% barrier level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above the barrier level par; 1% loss for every 1% that index declines if it ends below barrier value
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Call: | Automatically starting Oct. 25, 2022 at par and on any subsequent quarterly observation date if index closes above initial level
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Initial level: | 3,966.84
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Coupon barrier: | 3,173.472, 80% of initial level
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Barrier level: | 3,173.472, 80% of initial level
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Pricing date: | July 25, 2022
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Settlement date: | July 28, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40441XEZ9
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