Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.86 million autocallable barrier notes with step-up premium on indexes
New York, Feb. 29 – HSBC USA Inc. priced $1.86 million of 0% autocallable barrier notes with step-up premium due March 1, 2027 linked to the S&P 500 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on Feb. 26, 2025 if the level of the worst performing index is greater than or equal to its initial level on any semiannual observation date at a premium of 9.8% per year.
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, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,858,000
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| Maturity: | March 1, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If 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
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| Initial levels: | 39,069.23 for Dow Jones industrial average, 2,028.968 for Russell 2000, 5,069.53 for S&P 500
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| Barrier levels: | 27,348.461 for Dow Jones industrial average, 1,420.2776 for Russell 2000, 3,548.671 for S&P 500, 70% of initial level
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| Call: | Automatically starting on Feb. 26, 2025 if the level of the worst performing index is greater than or equal to its initial level on any semiannual observation date at a premium of 9.8% per year
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 29
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AYM0
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