Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $835,000 8.4% autocallable yield notes linked to Amazon.com
By Kiku Steinfeld
Chicago, Feb. 6 – HSBC USA Inc. priced $835,000 of autocallable yield notes due June 26, 2025 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called at par on any monthly determination date after six months if the stock closes at or above its initial level.
Investors will receive a coupon of 8.4%, paid monthly.
If the stock gains or ends above its 67% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level, payable in shares or cash at the issuer’s option.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying stock: | Amazon.com, Inc.
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Amount: | $835,000
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Maturity: | June 26, 2025
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Coupon: | 8.4%, paid monthly
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Price: | Par
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Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level, payable in shares or cash at the issuer’s option
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Call: | Par on any monthly determination date after six months if the stock closes at or above its initial level
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Initial level: | $124.83
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Downside threshold: | $83.6361, 67% of initial level
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Pricing date: | June 21, 2023
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Settlement date: | June 26, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.75%
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Cusip: | 40428HWZ1
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