Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $545,000 10.64% callable contingent income barrier notes on indexes
Chicago, Sept. 22 – HSBC USA Inc. priced $545,000 of callable contingent income barrier notes due June 21, 2024 linked to the least performing of the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.64%, paid monthly, if each underlying index closes at or above its 70% barrier level on the related monthly observation date.
The securities may be called at par starting on Dec. 21, 2022 and on any subsequent quarterly observation date.
The payout at maturity will be par if the worst performing index ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable contingent income barrier notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $545,000
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Maturity: | June 21, 2024
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Coupon: | 10.64% annual rate, paid monthly, if each underlying index closes at or above its 70% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above the barrier level par; 1% loss for every 1% that worst performing index declines if it ends below barrier value
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Call: | At par starting on Dec. 21, 2022 and on any subsequent quarterly observation date
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Initial levels: | 30,822.42 for Dow, 11,861.38 for Nasdaq, 1,798.189 for Russell
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Coupon barriers: | 21,575.694 for Dow, 8,302.966 for Nasdaq, 1,258.7323 for Russell, 70% of initial levels
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Barrier levels: | 21,575.694 for Dow, 8,302.966 for Nasdaq, 1,258.7323 for Russell, 70% of initial levels
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Pricing date: | Sept. 16, 2022
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Settlement date: | Sept. 21, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.875%
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Cusip: | 40441XNW6
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