By Kiku Steinfeld
Chicago, Jan. 10 – HSBC USA Inc. priced $650,000 of 0% autocallable barrier notes with step-up premium and digital upside return due April 28, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index return is greater than 25%, the payout at maturity will be par plus the index return.
If the index return is greater than 0% but less than or equal to 25%, the payout will be par plus the digital return of 25%.
If the return is less than or equal to 0% but greater than or equal to negative 25%, investors will receive par.
Otherwise, investors will be fully exposed to the losses of the index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium and digital upside return
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Underlying index: | Russell 2000 index
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Amount: | $650,000
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Maturity: | April 28, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus gain if index return is greater than 25%; if index return is greater than 0% but less than or equal to 25%, par plus 25%; if return is less than or equal to 0% but greater than or equal to negative 25%, par; otherwise, full exposure to losses from initial level
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Call: | At par plus a 11% annualized call premium if the index closes at or above its initial level on any annual observation date
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Initial index level: | 1,745.952
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Barrier level: | 75% of initial level
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.35%
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Cusip: | 40441X5N6
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