Published on 4/9/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.59 million 25.6% autocallable contingent income barrier notes on stocks
New York, April 9 – HSBC USA Inc. priced $2.59 million of autocallable contingent income barrier notes due Jan. 9, 2026 linked to the common stocks of Advanced Micro Devices, Inc., Nvidia Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 25.6%, paid monthly, if each underlying stock closes at or above its 60% barrier level on the related monthly observation date.
The payout at maturity will be par if the worst performing stock ends at or above its 60% barrier value. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.
The securities will be called automatically starting on July 3 at par if the level of the worst performing stock is greater than or equal to its initial level and on any subsequent monthly observation date.
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 stocks: | Advanced Micro Devices, Inc., Nvidia Corp. and Intel Corp.
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| Amount: | $2.59 million
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| Maturity: | Jan. 9, 2026
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| Coupon: | 25.6%, paid monthly, if each 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 worst performing stock finishes at or above the barrier level par; 1% loss for every 1% that worst performing stock declines if it ends below barrier value
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| Call: | Automatically starting on July 3 at par if the level of the worst performing stock is greater than or equal to its initial level and on any subsequent monthly observation date
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| Initial levels: | $165.83 for Advanced Micro Devices, $39.73 for Intel, $859.05 for NVIDIA
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| Coupon barriers: | $99.498 for Advanced Micro Devices, $23.838 for Intel, $515.43 for NVIDIA, 60% of initial levels
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| Barrier levels: | $99.498 for Advanced Micro Devices, $23.838 for Intel, $515.43 for NVIDIA, 60% of initial levels
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| Pricing date: | April 4
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| Settlement date: | April 9
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.25%
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| Cusip: | 40447AW67
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