Published on 3/25/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.59 million contingent income barrier autocallables on three indexes
New York, March 25 – HSBC USA Inc. priced $3.59 million of autocallable contingent income barrier notes due March 22, 2027 linked to the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.97%, paid quarterly, if each underlying index closes at or above its 70% barrier level on the related quarterly observation date.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly observation date starting on Sept. 18, 2024.
The payout at maturity will be par if the worst performing index ends at or above its 70% barrier value. 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 contingent income barrier notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $3,587,000
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| Maturity: | March 22, 2027
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| Coupon: | 7.97%, paid quarterly, if each underlying index closes at or above its 70% barrier level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above the 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 if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly observation date starting on Sept. 18, 2024
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| Initial levels: | 38,714.77 for Dow Jones industrial average, 17,808.25 for Nasdaq-100, 2,039.322 for Russell 2000
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| Coupon barriers: | 27,100.339 for Dow Jones industrial average, 12,465.775 for Nasdaq-100, 1,427.5254 for Russell 2000, 70% of initial levels
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| Barrier levels: | 27,100.339 for Dow Jones industrial average, 12,465.775 for Nasdaq-100, 1,427.5254 for Russell 2000, 70% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AJ88
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