Published on 1/19/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.96 million step down trigger autocalls on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Jan. 19 – HSBC USA Inc. priced $4.96 million of 0% step down trigger autocallable notes due Jan. 16, 2025 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 8.1% annualized if each index closes at or above its initial level on any quarterly review date after one year or at or above its 75% step down threshold on the final valuation date.
If all indexes finish at or above the step down threshold, the payout at maturity will be par plus 24.3%.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $4,959,000
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| Maturity: | Jan. 16, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above the step down threshold, par plus 24.3%; otherwise, lose 1% for each 1% decline of worst performing index from its initial level
|
| Call: | At par plus 8.1% annualized if each index closes at or above its initial level on any quarterly review date after one year or at or above its step down threshold on final valuation date
|
| Initial index levels: | 4,726.35 for S&P, 2,176.057 for Russell, 15,905.1 for Nasdaq
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| Step down thresholds: | 3,544.763 for S&P, 1,632.043 for Russell, 11,928.825 for Nasdaq; 75% of initial levels
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| Strike date: | Jan. 12
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
|
| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 40439N858
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