Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.38 million autocallable barrier notes with step-up premium on two indexes
New York, April 19 – HSBC USA Inc. priced $2.38 million of 0% autocallable barrier notes with step-up premium due April 10, 2028 linked to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 9.02% per year if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly observation date starting on April 7, 2025.
If the notes are not called, the payout at maturity will be par if the worst performing index finishes at or above its 80% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable barrier notes with step-up premium
|
| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
|
| Amount: | $2,381,000
|
| Maturity: | April 10, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call: | Automatically at a premium of 9.02% per year if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly observation date starting on April 7, 2025
|
| Initial levels: | 39,127.14 for Dow Jones industrial average, 2,076.203 for Russell 2000
|
| Barrier levels: | 31,301.712 for Dow Jones industrial average, 1,660.9624 for Russell 2000, 80% of initial levels
|
| Pricing date: | April 3
|
| Settlement date: | April 8
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 40447AP65
|
|
|
|
|
© 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.
