Chicago, Aug. 21 – HSBC USA Inc. priced $340,000 of phoenix quarterly review notes with memory coupon feature due Aug. 16, 2023 linked to the common stock of Generac Holdings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an 18.35% coupon paid quarterly if the stock closes at or above its 55% coupon barrier on the observation date for that quarter, plus any previously unpaid coupons.
The securities will be called automatically starting Nov. 10, 2022 at par and on any subsequent quarterly review date if the stock closes above its initial level.
At maturity, the payout will be par if the stock closes above its 55% trigger price.
Otherwise, investors will be fully exposed to the losses of the stock.
J.P. Morgan Securities LLC is the placement agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Phoenix quarterly review notes with memory coupon feature
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| Underlying stock: | Generac Holdings Inc.
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| Amount: | $340,000
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| Maturity: | Aug. 16, 2023
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| Coupon: | 18.35% annual rate, paid quarterly if the stock closes at or above its 55% coupon barrier on the observation date for that quarter, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes at or above its trigger level, otherwise full exposure to the decline of stock
|
| Call: | Automatically starting Nov. 10, 2022 at par and on any subsequent quarterly review date if stock closes above initial level
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| Initial level: | $268.30
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| Coupon barrier: | $147.565, 55% of initial level
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| Trigger level: | $147.565, 55% of initial level
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 40441XFD7
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