Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.63 million autocallable barrier notes with step-up premium on two indexes
New York, April 19 – HSBC USA Inc. priced $4.63 million of 0% autocallable barrier notes with step-up premium due April 10, 2028 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 10.75% per year if the closing level of the worst performing index is greater than or equal to its initial level on any annual observation date.
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: | S&P 500 index and Russell 2000 index
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Amount: | $4.63 million
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Maturity: | April 10, 2028
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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 10.75% per year if the closing level of the worst performing index is greater than or equal to its initial level on any annual observation date
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Initial levels: | 2,076.203 for Russell 2000, 5,211.49 for S&P 500
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Barrier levels: | 1,453.3421 for Russell 2000, 3,648.043 for S&P 500, 70% of initial levels
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Pricing date: | April 3
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Settlement date: | April 8
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40447AR55
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