Published on 12/1/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $572,000 14.6% callable contingent income barrier notes on indexes
Chicago, Dec. 1 – HSBC USA Inc. priced $572,000 of callable contingent income barrier notes due Oct. 28, 2024 linked to the least performing of the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.6%, paid monthly, if each underlying index closes at or above its 70% barrier level on the related monthly observation date.
The securities may be called starting on April 28, 2023 and on any subsequent quarterly observation date.
The payout at maturity will be par if the worst performing index ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable contingent income barrier notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $572,000
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Maturity: | Oct. 28, 2024
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Coupon: | 14.6% annual rate, paid monthly, if each underlying index closes at or above its 70% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above the barrier level par; 1% loss for every 1% that worst performing index declines if it ends below barrier value
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Call: | At par starting on April 28, 2023 and on any subsequent quarterly observation date
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Initial levels: | 31,836.74 for Dow, 11,669.99 for Nasdaq, 1,796.155 for Russell
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Coupon barriers: | 22,285.718 for Dow, 8,168.993 for Nasdaq, 1,257.3085 for Russell, 70% of initial levels
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Barrier levels: | 22,285.718 for Dow, 8,168.993 for Nasdaq, 1,257.3085 for Russell, 70% of initial levels
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Pricing date: | Oct. 25, 2022
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Settlement date: | Oct. 28, 2022
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40441XSB7
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