Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $486,000 16.76% autocallable yield notes linked to Ford
Chicago, Oct. 16 – HSBC USA Inc. priced $486,000 of autocallable yield notes due Nov. 13, 2023 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.76%, paid monthly.
The securities will be called automatically at par if the level of the stock is greater than or equal to its initial level starting after six months and on any subsequent monthly determination date.
If the stock gains or ends above its 63% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level, payable in shares.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable yield notes
|
Underlying stock: | Ford Motor Co.
|
Amount: | $486,000
|
Maturity: | Nov. 13, 2023
|
Coupon: | 16.76% annual rate, paid monthly
|
Price: | Par
|
Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level, payable in shares
|
Call: | Automatically at par if the level of the stock is greater than or equal to its initial level starting after six months and on any subsequent monthly determination date
|
Initial level: | $11.56
|
Downside threshold: | $7.2828, 63% of initial level
|
Pricing date: | Oct. 11, 2022
|
Settlement date: | Oct. 14, 2022
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 1.5%
|
Cusip: | 40428HUB6
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.