Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $917,000 16.15% autocallable contingent income barrier notes on Tesla
Chicago, Feb. 6 – HSBC USA Inc. priced $917,000 of autocallable contingent income barrier notes due Nov. 19, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.15%, paid quarterly, if the underlying stock closes at or above its 50% barrier level on the related quarterly observation date.
The securities will be called automatically starting Nov. 15, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
The payout at maturity will be par if the stock ends at or above its 50% barrier value. Otherwise, investors will lose 1% for every 1% that the stock 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 stock: | Tesla, Inc.
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| Amount: | $917,000
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| Maturity: | Nov. 19, 2024
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| Coupon: | 16.15% annual rate, paid quarterly, if the underlying stock closes at or above its 50% barrier level on the related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value
|
| Call: | Automatically starting Nov. 15, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date
|
| Initial level: | $166.52
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| Coupon barrier: | $83.26, 50% of initial level
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| Barrier level: | $83.26, 50% of initial level
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| Pricing date: | May 16, 2023
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| Settlement date: | May 19, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.875%
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| Cusip: | 40447AAX2
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