Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $13.37 million autocallable Stars linked to Euro Stoxx 50
By William Gullotti
Buffalo, N.Y., Oct. 4 – HSBC USA Inc. priced $13.37 million autocallable Strategic Accelerated Redemption Securities due Sept. 25, 2026 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at an annualized call premium of 13.15% if the closing level of the index is greater than or equal to its initial level on any annual determination date.
If the notes are not called at maturity, investors will lose 1% for each 1% decline in the index.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable Strategic Accelerated Redemption Securities
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Underlying index: | Euro Stoxx 50 index
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Amount: | $13,368,630
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Maturity: | Sept. 25, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Full exposure to loss
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Call: | At par plus 13.15% annualized if the closing level of the index is greater than or equal to its initial value on any annual determination date
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Initial level: | 4,161.56
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Pricing date: | Sept. 28
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Settlement date: | Oct. 6
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 44328M252
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