Published on 3/23/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.08 million 7% autocallable yield notes tied to S&P, Russell
By William Gullotti
Buffalo, N.Y., March 23 – HSBC USA Inc. priced $5.08 million of 7% autocallable yield notes due Sept. 7, 2023 linked to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par if each index closes at or above its initial level on any semiannual call date.
The payout at maturity will be par unless any index finishes below its 80% trigger level, in which case investors will lose 1.25% for every 1% decline of the worst performer below 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying assets: | S&P 500 index, Russell 2000 index
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Amount: | $5,075,000
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Maturity: | Sept. 7, 2023
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Coupon: | 7%, payable semiannually
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its 80% trigger level, in which case 1.25% loss for every 1% decline of the worst performer beyond 20%
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Call: | Automatically at par if each index closes at or above initial level on any semiannual call date
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Initial levels: | 4,306.26 for S&P, 2,008.506 for Russell
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Trigger levels: | 3,445.008 for S&P, 1,606.8048 for Russell; 80% of initial levels
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Strike date: | March 1
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Pricing date: | March 2
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Settlement date: | March 7
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.05%
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Cusip: | 40439JH99
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