Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $625,000 autocallable barrier notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Sept. 22 – HSBC USA Inc. priced $625,000 of 0% autocallable barrier notes with step-up premium due Sept. 9, 2024 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Sept. 8, 2023, the notes will be automatically called at par plus 16.06% per year if each index closes at or above its initial level on any quarter call observation date.
If the notes are not called, the payout at maturity will be par unless the least-performing index’s return is less than negative 40%, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
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 indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $625,000
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| Maturity: | Sept. 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless least-performing index’s return is less than negative 40%, in which case 1% loss for every 1% that least-performing index declines from initial level
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| Call: | Beginning Sept. 8, 2023, automatically at par plus 16.06% per year if each index closes at or above initial level on any quarter call observation date
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| Initial levels: | 31,145.30 for Dow, 1,792.323 for Russell and 12,011.31 for Nasdaq
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| Barrier levels: | 18,687.18 for Dow, 1,075.3938 for Russell and 7,206.786 for Nasdaq, or 60% of initial levels
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| Pricing date: | Sept. 6, 2022
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| Settlement date: | Sept. 9, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.7%
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| Cusip: | 40441XMA5
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