Published on 12/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.97 million 10.33% contingent income barrier autocalls with memory on Bristol Myers
New York, Dec. 22 – HSBC USA Inc. priced $4.97 million of autocallable contingent income barrier notes with memory coupon due Dec. 21, 2026 linked to the common stock of Bristol Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.33%, paid quarterly, if the underlying stock closes at or above its 70% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The payout at maturity will be par if the stock ends at or above its 70% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting on June 17, 2024 and on any subsequent quarterly observation date.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Bristol Myers Squibb Co.
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| Amount: | $4,965,000
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| Maturity: | Dec. 21, 2026
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| Coupon: | 10.33%, paid quarterly, if the underlying stock closes at or above its 70% barrier level on the related quarterly observation date, plus any previously unpaid coupons
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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 on June 17, 2024 and on any subsequent quarterly observation date
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| Initial level: | $50.89
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| Coupon barrier: | $35.623, 70% of initial level
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| Barrier level: | $35.623, 70% of initial level
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AUG7
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