Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.29 million autocallable contingent income barrier notes on three indexes
New York, Jan. 2 – HSBC USA Inc. priced $3.29 million of autocallable contingent income barrier notes due June 27, 2025 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.15%, paid monthly, if each underlying index closes at or above its 60% barrier level on the related monthly observation date.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly observation date starting on June 24, 2024.
The payout at maturity will be par if the worst performing index ends at or above its 60% 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: | Autocallable contingent income barrier notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $3.29 million
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| Maturity: | June 27, 2025
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| Coupon: | 7.15%, paid monthly, if each underlying index 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 worst performing index finishes at or above the barrier level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly observation date starting on June 24, 2024
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| Initial levels: | 37,404.35 for Dow Jones industrial average, 16,757.41 for Nasdaq-100, 2,017.065 for Russell 2000
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| Coupon barriers: | 22,442.61 for Dow Jones industrial average, 10,054.446 for Nasdaq-100, 1,210.239 for Russell 2000, 60% of initial levels
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| Barrier levels: | 22,442.61 for Dow Jones industrial average, 10,054.446 for Nasdaq-100, 1,210.239 for Russell 2000, 60% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40447AUR3
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