Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.85 million trigger callable yield notes on Russell, Dow
By Wendy Van Sickle
Columbus, Ohio, June 8 – HSBC USA Inc. priced $5.85 million of 8.35% trigger callable yield notes due Sept. 8, 2023 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par unless the least-performing index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing index.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger callable yield notes
|
| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $5,846,700
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| Maturity: | Sept. 8, 2023
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| Coupon: | 8.35% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing index finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing index
|
| Call option: | At par on any coupon date after three months
|
| Initial level: | 32,899.7 for Dow, 1,883.053 for Russell
|
| Downside threshold: | 19,739.82 for Dow, 1,129.8318 for Russell; 60% of initial level
|
| Pricing date: | June 3
|
| Settlement date: | June 8
|
| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 40439N692
|
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