Published on 8/11/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.22 million autocallable barrier notes with step-up premium on three indexes
Chicago, Aug. 11 – HSBC USA Inc. priced $1.22 million of 0% autocallable barrier notes with step-up premium due Dec. 23, 2026 linked to the lesser performing of the Dow Jones industrial average, 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 11.25% annualized call premium if each index closes at or above 97% of its initial level on any annual valuation date.
If the notes are not called, the payout will be par unless any index has finished below its 75% 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: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
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| Amount: | $1,220,000
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| Maturity: | Dec. 23, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If not called because at least one index has closed below the call level, 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 11.25% annualized call premium if each index closes at or above call level on any annual valuation date
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| Initial index levels: | 34,932.16 for Dow, 4,568.02 for S&P, 2,139.875 for Russell
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| Barrier levels: | 26,199.12 for Dow, 3,426.015 for S&P, 1,604.90625 for Russell; 75% of initial levels
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| Pricing date: | Dec. 20, 2021
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| Settlement date: | Dec. 23, 2021
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40439JVC6
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