Published on 3/6/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.47 million autocallable contingent income barrier notes on Alibaba
New York, March 6 – HSBC USA Inc. priced $1.47 million of autocallable contingent income barrier notes due March 10, 2025 linked to the American depositary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.46%, paid monthly, if the underlying stock closes at or above its 60% barrier level on the related monthly observation date.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting Aug. 7, 2024.
The payout at maturity will be par if the stock ends at or above its 60% 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: | Alibaba Group Holding Ltd.
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Amount: | $1,471,000
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Maturity: | March 10, 2025
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Coupon: | 9.46%, paid monthly, if the underlying stock closes at or above its 60% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above the barrier level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting Aug. 7, 2024
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Initial level: | $78.23
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Coupon barrier: | $46.938, 60% of initial level
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Barrier level: | $46.938, 60% of initial level
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Pricing date: | Feb. 6
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Settlement date: | Feb. 9
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40447AYE8
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