Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $625,000 autocallable barrier notes with step-up on S&P, Nasdaq, Russell
Chicago, Sept. 27 – HSBC USA Inc. priced $625,000 of 0% autocallable barrier notes with step-up premium due Sept. 29, 2027 linked to the least performing of the S&P 500 index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on Sept. 26, 2023 and on any subsequent quarterly observation date at a premium of 15.3% per year if all three indexes close above their initial levels.
The maturity date premium is 76.5%.
If the notes have not been called, the payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier 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, Nasdaq-100 and Russell 2000 index
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| Amount: | $625,000
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| Maturity: | Sept. 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 76.5%; if worst performing index declines but finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
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| Call: | Automatically starting on Sept. 26, 2023 and on any subsequent quarterly observation date at a premium of 15.3% per year if all three indexes close above their initial levels
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| Initial levels: | 11,254.11 for Nasdaq, 1,655.882 for Russell, 3,655.04 for S&P
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| Barrier levels: | 7,877.877 for Nasdaq, 1,159.1174 for Russell, 2,558.528 for S&P, 70% of initial levels
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| Pricing date: | Sept. 26, 2022
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| Settlement date: | Sept. 29, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.75%
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| Cusip: | 40441XPN4
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