Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $400,000 24.5% autocallable contingent income barrier notes on AMD
Chicago, Aug. 17 – HSBC USA Inc. priced $400,000 of autocallable contingent income barrier notes due July 28, 2025 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 24.5%, paid quarterly, if the underlying stock closes at or above its 70% barrier level on the related quarterly observation date.
The securities will be called automatically starting Oct. 25, 2022 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
The payout at maturity will be par if the stock ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the stock 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 stock: | Advanced Micro Devices, Inc.
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Amount: | $400,000
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Maturity: | July 28, 2025
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Coupon: | 24.5% annual rate, paid quarterly, if the underlying stock closes at or above its 70% barrier level on the related quarterly observation date
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Price: | Par
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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
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Call: | Automatically starting Oct. 25, 2022 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: | $87.54
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Coupon barrier: | $61.278, 70% of initial level
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Barrier level: | $61.278, 70% 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: | 40441XEY2
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