Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $700,000 6.75% autocallable yield notes linked to S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Jan. 29 – HSBC USA Inc. priced $700,000 of autocallable yield notes due June 14, 2024 linked to the S&P 500 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on December 11, 2023 if the level of the worst performing index is greater than or equal to its initial level on any quarterly determination date.
Investors will receive a coupon of 6.75%, paid quarterly.
If the worst performing index ends above its 65% downside threshold the payout at maturity will be par plus the coupon. 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 yield notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $700,000
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Maturity: | June 14, 2024
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Coupon: | 6.75%, paid quarterly
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting on December 11, 2023 if the level of the worst performing index is greater than or equal to its initial level on any quarterly determination date
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Initial levels: | 33,876.78 for Dow, 1,865.706 for Russell, 4,298.86 for S&P
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Downside thresholds: | 65% of initial levels
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Pricing date: | June 9, 2023
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Settlement date: | June 14, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40447ACU6
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