Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $5.98 million autocallable buffered notes with step-up premium on indexes
Chicago, April 8 – HSBC USA Inc. priced $5.98 million of 0% autocallable buffered notes with step-up premium due Oct. 6, 2025 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 14.1% annualized premium if the indexes close at or above the call threshold on any semiannual call observation date. The call threshold will be 100% of each index’s initial level.
If the notes are not called, the payout will be par unless either index falls below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable buffered notes with step-up premium
|
| Underlying index: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $5,979,000
|
| Maturity: | Oct. 6, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called, par unless either index falls below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%
|
| Call: | At par plus a 14.1% annualized premium if each index closes at or above the call threshold on any semiannual call observation date; call threshold will be 100% of the initial level
|
| Initial levels: | 18,293.20 for Nasdaq, 2,102.837 for Russell
|
| Buffer levels: | 14,634.56 for Nasdaq, 1,682.2696 for Russell; 80% of initial levels
|
| Strike date: | April 1
|
| Pricing date: | April 2
|
| Settlement date: | April 5
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.15%
|
| Cusip: | 40447AY32
|
|
|
© 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.
