Published on 1/25/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.64 million 10.75% autocallable yield notes tied to S&P, Russell
By William Gullotti
Buffalo, N.Y., Jan. 25 – HSBC USA Inc. priced $3.64 million of 10.75% autocallable yield notes due April 25, 2024 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 quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call date after one year.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 75% trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the laggard index declines from initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index
|
| Amount: | $3,636,000
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| Maturity: | April 25, 2024
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| Coupon: | 10.75%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below its 75% trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the laggard index declines from initial level
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly call date after one year
|
| Initial levels: | 3,972.61 for S&P, 1,867.336 for Russell
|
| Trigger levels: | 2,979.4575 for S&P, 1,400.502 for Russell; 75% of initial levels
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40441XC65
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