Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $540,000 autocallable barrier notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Aug. 29 – HSBC USA Inc. priced $540,000 of 0% autocallable barrier notes with step-up premium due Sept. 13, 2027 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Sept. 8, 2023, the notes will be automatically called at par plus 15.9% per year if each index closes at or above its initial level on any semiannual call observation date.
If the notes are not called, the payout at maturity will be par unless the least-performing index’s return is less than negative 20%, in which case investors will lose 1% for every 1% that the least-performing index declines 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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $540,000
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| Maturity: | Sept. 13, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless least-performing index’s return is less than negative 20%, in which case 1% loss for every 1% that least-performing index declines from initial level
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| Call: | Beginning Sept. 8, 2023, automatically at par plus 15.9% per year if each index closes at or above initial level on any semiannual call observation date
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| Initial levels: | 3,979.87 for S&P, 1,832.003 for Russell and 31,581.28 for Dow
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| Barrier levels: | 3,183.896 for S&P, 1,465.6024 for Russell and 25,265.024 for Dow, or 80% of initial levels
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| Pricing date: | Sept. 7, 2022
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| Settlement date: | Sept. 12, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.4%
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| Cusip: | 40441XJV3
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