Published on 1/29/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.91 million autocallable barrier notes with step-up premium on indexes
Chicago, Jan. 29 – HSBC USA Inc. priced $4.91 million of 0% autocallable barrier notes with step-up premium due Jan. 24, 2029 linked to the least performing of the Russell 2000 index and FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on April 19, 2024 if the level of the worst performing index is greater than or equal to its initial level and on any subsequent quarterly observation date at a premium of 10.35% per year.
The maturity date premium is 51.75%.
If the notes are not called, the payout at maturity will be par if the worst performing index finishes at or above its 75% 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
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| Underlying indexes: | Russell 2000 index and FTSE 100 index
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| Amount: | $4,911,000
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| Maturity: | Jan. 24, 2029
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If called, par plus 51.75%; 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 April 19, 2024 if the level of the worst performing index is greater than or equal to its initial level and on any subsequent quarterly observation date at a premium of 10.35% per year
|
| Initial levels: | 7,461.93 for FTSE, 1,944.391 for Russell
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| Barrier levels: | 5,596.4475 for FTSE, 1,458.29325 for Russell, 75% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.85%
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| Cusip: | 40447AWW0
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