Published on 8/3/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $965,000 autocallable barrier notes with step-up premium on three indexes
By Kiku Steinfeld
Chicago, Aug. 3 – HSBC USA Inc. priced $965,000 of 0% autocallable barrier notes with step-up premium due Jan. 11, 2027 linked to the lesser performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 11.4% annualized call premium if each index closes at or above its initial level on any semiannual valuation 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: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $965,000
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| Maturity: | Jan. 11, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
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| Call: | At par plus an 11.4% annualized call premium if each index closes at or above its initial level on any semiannual valuation date after one year
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| Initial index levels: | 15,765.36 for Nasdaq, 4,696.05 for S&P, 2,206.372 for Russell
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| Barrier levels: | 11,035.752 for Nasdaq, 3,287.235 for S&P, 1,544.4604 for Russell; 70% of initial levels
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| Pricing date: | Jan. 6, 2022
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| Settlement date: | Jan. 11, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.25%
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| Cusip: | 40439JXK6
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