Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $110,000 callable contingent income barrier notes on Russell, EM ETF
Chicago, Dec. 2 – HSBC USA Inc. priced $110,000 of callable contingent income barrier notes due March 24, 2025 linked to the least performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at an annual rate of 9.9% if each underlier closes at or above its trigger level, 70% of its initial level, on the observation date for that period.
The notes will be callable at par on any semiannual call observation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worst performer from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Callable contingent income barrier notes
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| Underlying assets: | Russell 2000 index, iShares MSCI Emerging Markets ETF
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| Amount: | $110,000
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| Maturity: | March 24, 2025
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| Coupon: | 9.9% annual rate, payable semiannually if each underlier closes at or above trigger level on determination date for that period
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above barrier level, par; otherwise, exposure to decline of worst-performing underlier from its initial level
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| Call option: | At par on any semiannual call observation date
|
| Initial levels: | 2,086.143 for index, $45.36 for ETF
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| Trigger/barrier levels: | 1,460.3001 for index, $31.752 for ETF; 70% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40439JC60
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