Published on 12/7/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.61 million 14.2% autocallable contingent income barrier notes on Meta Platforms
New York, Dec. 7 – HSBC USA Inc. priced $3.61 million of autocallable contingent income barrier notes due Jan. 6, 2025 linked to the common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.2%, paid monthly, if the underlying stock closes at or above its 72% barrier level on the related monthly observation date.
The payout at maturity will be par if the stock ends at or above its 72% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting June 3, 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: | Meta Platforms, Inc.
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Amount: | $3,607,000
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Maturity: | Jan. 6, 2025
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Coupon: | 14.2%, paid monthly, if the underlying stock closes at or above its 72% 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 June 3, 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: | $332.20
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Coupon barrier: | $239.184, 72% of initial level
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Barrier level: | $239.184, 72% of initial level
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Pricing date: | Nov. 29
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Settlement date: | Dec. 4
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40428HZF2
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