Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.66 million autocallable barrier notes with step-up premium on two indexes
New York, Feb. 14 – HSBC USA Inc. priced $1.66 million of 0% autocallable barrier notes with step-up premium due Feb. 1, 2027 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a premium of 10% per year 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 January 29, 2025.
If the notes are not called, the payout at maturity will be par if the worst performing index finishes at or above its 75% barrier.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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Amount: | $1,658,000
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Maturity: | Feb. 1, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above 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 plus a premium of 10% per year 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 January 29, 2025
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Initial levels: | 17,421.01 for Nasdaq-100, 1,978.331 for Russell 2000
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Barrier levels: | 13,065.7575 for Nasdaq-100, 1,483.74825 for Russell 2000, 75% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40447AUX0
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