Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.92 million autocallable barrier notes with step-up premium on indexes
New York, April 19 – HSBC USA Inc. priced $1.92 million of 0% autocallable barrier notes with step-up premium due April 15, 2027 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 11.70% per year 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 April 10, 2025.
If the notes are not called, the payout at maturity will be par if the worst performing index finishes at or above its 70% 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.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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Amount: | $1,923,000
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Maturity: | April 15, 2027
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Coupon: | 0%
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Price: | Par
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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
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Call: | Automatically at a premium of 11.70% per year 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 April 10, 2025
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Initial levels: | 38,461.51 for Dow Jones industrial average, 18,011.65 for Nasdaq-100, 2,028.389 for Russell 2000
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Barrier levels: | 26,923.057 for Dow Jones industrial average, 12,608.155 for Nasdaq-100, 1,419.8723 for Russell 2000, 70% of initial levels
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Pricing date: | April 10
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Settlement date: | April 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40447AX82
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