Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.65 million autocallable barrier notes with step-up premium on index, ETF
By William Gullotti
Buffalo, N.Y., Sept. 28 – HSBC USA Inc. priced $1.65 million of 0% autocallable barrier notes with step-up premium due Sept. 27, 2028 linked to the performance of the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual 9.55% call premium if each underlier closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called at maturity, the payout will be par unless any underlier finishes below its 80% barrier level, in which case investors will lose 1% for each 1% decline of the worst performer 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 assets: | iShares MSCI EAFE ETF, Euro Stoxx 50 index
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Amount: | $1.65 million
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Maturity: | Sept. 27, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of worst performer from its initial level
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Call: | At par plus an annual 9.55% call premium if each underlier closes at or above its initial level on any quarterly observation date after one year
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Initial asset levels: | $69.90 for ETF, 4,207.16 for Stoxx
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Barrier levels: | $55.92 for ETF, 3,365.728 for Stoxx; 80% of initial levels
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40447AML5
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