Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5 million 12% contingent income barrier notes on stocks
By Wendy Van Sickle
Columbus, Ohio, April 18 – HSBC USA Inc. priced $5 million of contingent income barrier notes due April 21, 2025 linked to the common stocks of Apple Inc., Microsoft Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, 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.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Contingent income barrier notes
|
Underlying stocks: | Apple Inc., Microsoft Corp. and Intel Corp.
|
Amount: | $5 million
|
Maturity: | April 21, 2025
|
Coupon: | 12%, paid monthly, if each underlying stock closes at or above its 60% barrier level on the related monthly observation date
|
Price: | Par
|
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
|
Initial levels: | $167.78 for Apple, $37.20 for Intel, $423.26 for Microsoft
|
Coupon barriers: | $100.668 for Apple, $22.32 for Intel, $253.956 for Microsoft, 60% of initial levels
|
Barrier levels: | $100.668 for Apple, $22.32 for Intel, $253.956 for Microsoft, 60% of initial levels
|
Pricing date: | April 10
|
Settlement date: | April 17
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.25%
|
Cusip: | 40447A2M5
|
|
|
© 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.