Published on 11/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.81 million autocallable contingent income barrier notes linked to Apple
New York, Nov. 22 – HSBC USA Inc. priced $1.81 million of autocallable contingent income barrier notes due Feb. 24, 2025 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly, if the underlying stock closes at or above its 70% barrier level on the related monthly observation date.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting May 21, 2024.
The payout at maturity will be par if the stock ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the stock declines.
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 stock: | Apple Inc.
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| Amount: | $1,806,000
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| Maturity: | Feb. 24, 2025
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| Coupon: | 9.25%, paid monthly, if the underlying stock closes at or above its 70% barrier level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above the barrier level, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting May 21, 2024
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| Initial level: | $189.69
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| Coupon barrier: | $132.783, 70% of initial level
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| Barrier level: | $132.783, 70% of initial level
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40447ARU0
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