Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.49 million callable contingent income barrier notes on three indexes
New York, March 21 – HSBC USA Inc. priced $2.49 million of callable contingent income barrier notes due March 22, 2027 linked to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.35%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly observation date starting on June 24.
The payout at maturity will be par if the worst performing index ends at or above its 60% barrier value. Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable contingent income barrier notes
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $2,487,000
|
| Maturity: | March 22, 2027
|
| Coupon: | 9.35%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above the barrier level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call option: | At par on any monthly observation date starting on June 24
|
| Initial levels: | 17,808.25 for Nasdaq-100, 2,039.322 for Russell 2000, 5,117.09 for S&P 500
|
| Coupon barriers: | 12,465.775 for Nasdaq-100, 1,427.5254 for Russell 2000, 3,581.963 for S&P 500, 70% of initial levels
|
| Barrier levels: | 10,684.95 for Nasdaq-100, 1,223.5932 for Russell 2000, 3,070.254 for S&P 500, 60% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40447AN67
|
|
|
|
|
© 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.
