Published on 9/18/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $251,000 autocallable barrier notes linked to three stocks
By Angela McDaniels
Tacoma, Wash., Sept. 18 – HSBC USA Inc. priced $251,000 of 0% autocallable barrier notes with step-up premium due Sept. 8, 2027 linked to the class A common stock of Alphabet Inc. and the common stocks of Microsoft Corp., Apple Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Sept. 5, 2023, the notes will be automatically called at par plus 22.73% per year if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called, the payout at maturity will be par unless the least-performing stock’s return is less than negative 50%, in which case investors will lose 1% for every 1% that the least-performing stock declines from its initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-up premium
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| Underlying stocks: | Alphabet Inc., Microsoft Corp., Apple Inc. and Amazon.com, Inc.
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| Amount: | $251,000
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| Maturity: | Sept. 8, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock’s return is less than negative 50%, in which case 1% loss for every 1% that least-performing stock declines from initial share price
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| Call: | Beginning Sept. 5, 2023, automatically at par plus 22.73% per year if each stock closes at or above initial share price on any quarterly call observation date
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| Initial share prices: | $256.06 for Microsoft, $107.85 for Alphabet, $155.81 for Apple and $127.51 for Amazon
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| Barrier levels: | $128.03 for Microsoft, $53.925 for Alphabet, $77.905 for Apple and $63.755 for Amazon, or 50% of initial share price
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| Pricing date: | Sept. 2, 2022
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| Settlement date: | Sept. 8, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.25%
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| Cusip: | 40441XNA4
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