Published on 4/5/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.46 million autocallable barrier notes with step-up premium on indexes
New York, April 5 – HSBC USA Inc. priced $2.46 million of 0% autocallable barrier notes with step-up premium due March 27, 2029 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a premium of 8.80% per year if the closing level of the worst performing index is greater than or equal to 95% of its initial level on any semiannual observation date starting on March 24, 2025.
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.
|
Issue: | Autocallable barrier notes with step-up premium
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
Amount: | $2,461,000
|
Maturity: | March 27, 2029
|
Coupon: | 0%
|
Price: | Par
|
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
|
Call: | Automatically at par plus a premium of 8.80% per year if the closing level of the worst performing index is greater than or equal to 95% of initial level on any semiannual observation date starting on March 24, 2025
|
Initial levels: | 39,475.90 for Dow Jones industrial average, 2,071.998 for Russell 2000, 5,234.18 for S&P 500
|
Barrier levels: | 29,606.925 for Dow Jones industrial average, 1,553.9985 for Russell 2000, 3,925.635 for S&P 500, 75% of initial levels
|
Pricing date: | March 22
|
Settlement date: | March 27
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 2%
|
Cusip: | 40447AE83
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.