By Emma Trincal
New York, Oct. 2 – HSBC USA Inc. priced $1.83 million of 0% barrier participation notes with autocall feature due Sept. 29, 2025 linked to the least performing of 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 automatically at par plus a premium of 11.3% if each index closes at or above its initial level on Sept. 25, 2024.
If each index finishes at or above its initial level, the payout at maturity will be par plus 150% of the laggard index’s return.
If the worst performer declines but finishes at or above its 70% barrier level, the payout will be par.
Otherwise, 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.
|
| Issue: | Barrier participation notes with autocall feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $1,830,000
|
| Maturity: | Sept. 29, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 150% of laggard index’s return; par if the worst performer declines up to barrier level; otherwise, full exposure to decline of worst performer
|
| Call: | Automatically at par plus 11.3% call premium if the laggard index closes at or above initial level on Sept. 25, 2024
|
| Initial levels: | 4,273.53 for S&P, 1,761.609 for Russell
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 40447AKZ6
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