Published on 11/20/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.48 million 17.35% autocallable contingent income barrier notes on Tesla
New York, Nov. 20 – HSBC USA Inc. priced $1.48 million of autocallable contingent income barrier notes due Nov. 17, 2026 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.35%, paid monthly, if the underlying stock closes at or above its 60% barrier level on the related monthly observation date.
The payout at maturity will be par if the stock ends at or above its 60% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting May 14, 2024 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable contingent income barrier notes
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Underlying stock: | Tesla, Inc.
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Amount: | $1,475,000
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Maturity: | Nov. 17, 2026
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Coupon: | 17.35%, paid monthly, if the underlying stock closes at or above its 60% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value
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Call: | Automatically starting May 14, 2024 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date
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Initial level: | $237.41
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Coupon barrier: | $142.446, 60% of initial level
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Barrier level: | $142.446, 60% of initial level
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Pricing date: | Nov. 14
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Settlement date: | Nov. 17
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.75%
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Cusip: | 40447ASJ4
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