Published on 12/29/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.05 million autocallable Stars linked to Euro Stoxx 50
By William Gullotti
Buffalo, N.Y., Dec. 29 – HSBC USA Inc. priced $4.05 million autocallable Strategic Accelerated Redemption Securities due Dec. 22, 2028 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at an annualized call premium of 9.6% if the closing level of the index is greater than or equal to its initial level on any annual determination date, including maturity.
Investors will receive par if the index declines by no more than 15% and will lose 1% for each 1% decline of the index beyond 15%.
BofA Securities, Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable Strategic Accelerated Redemption Securities
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Underlying index: | Euro Stoxx 50 index
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Amount: | $4,053,000
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Maturity: | Dec. 22, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes at or above threshold level, par; otherwise, lose 1% for each 1% decline beyond threshold
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Call: | At par plus 9.6% annualized if the closing level of the index is greater than or equal to its initial value on any annual determination date, including maturity
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Initial level: | 4,524.86
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Threshold level: | 3,846.13; 85% of initial level
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 403954738
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