New York, Nov. 6 – HSBC USA Inc. priced $5.84 million of autocallable yield notes due Dec. 3, 2024 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called on any monthly determination date after six months if the shares close at or above their initial level.
Investors will receive a coupon of 13.85%, paid monthly.
If the stock gains or ends above its 65% 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.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stock: | Nvidia Corp.
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| Amount: | $5,841,000
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| Maturity: | Dec. 3, 2024
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| Coupon: | 13.85%, paid monthly
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| Price: | Par
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| 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
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| Call: | After six months on any monthly observation date if shares close at or above initial level
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| Initial level: | $407.80
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| Downside threshold: | $265.07, 65% of initial level
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40428HYX4
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