Published on 7/22/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.11 million autocallable barrier notes with step-up premium on indexes
By Emma Trincal
New York, July 22 – HSBC USA Inc. priced $1.11 million of 0% autocallable barrier notes with step-up premium due July 13, 2026 linked to the lesser performing of the Russell 2000 index, the Nasdaq-100 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11.52% annualized call premium if each index closes at or above its initial level on any semiannual observation date after one year.
If the notes are not called, the payout will be par unless any index has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its 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, Nasdaq-100 and Euro Stoxx 50
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| Amount: | $1,107,000
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| Maturity: | July 13, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
|
| Call: | At par plus 11.52% call premium if each index closes at or above its initial level on any semiannual observation date after one year
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| Initial index levels: | 2,231.677 for Russell, 14,722.14 for Nasdaq, 3,991.66 for Stoxx
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| Barrier levels: | 1,562.1739 for Russell, 10,305.498 for Nasdaq, 2,794.162 for Stoxx, 70% of initial levels
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| Pricing date: | July 8
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| Settlement date: | July 13
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.65%
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| Cusip: | 40439JFU4
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