Published on 10/11/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $977,000 autocallable barrier notes with step-up premium on indexes
Chicago, Oct. 11 – HSBC USA Inc. priced $977,000 of 0% autocallable barrier notes with step-up premium due Oct. 5, 2026 linked to the least performing of the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on Oct. 2, 2023 and on any subsequent annual observation date at a premium of 13.45% per year if both indexes close above their 100% call thresholds.
The maturity date premium is 53.8%.
If the notes are not 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.
|
| Issue: | Autocallable barrier notes with step-up premium
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $977,000
|
| Maturity: | Oct. 5, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If called, par plus 53.8%; if not called and worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
|
| Call: | Automatically starting on Oct. 2, 2023 and on any subsequent annual observation date at a premium of 13.45% per year if both indexes close above initial levels
|
| Initial levels: | 1,664.716 for Russell, 3,585.62 for S&P
|
| Barrier levels: | 1,165.3012 for Russell, 2,509.934 for S&P, 70% of initial levels
|
| Pricing date: | Sept. 30, 2022
|
| Settlement date: | Oct. 5, 2022
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 40441XPP9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
