Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $697,000 7.25% autocallable contingent income barrier notes on S&P
Chicago, Feb. 8 – HSBC USA Inc. priced $697,000 of autocallable contingent income barrier notes with memory coupon due May 26, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid semiannually, if the underlying index closes at or above its 70% barrier level on the related observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting on Nov. 21, 2023 and on any subsequent determination date if the index closes above its initial level.
The payout at maturity will be par if the index ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the index declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
|
| Underlying index: | S&P 500 index
|
| Amount: | $697,000
|
| Maturity: | May 26, 2026
|
| Coupon: | 7.25% annual rate, paid semiannually, if the underlying index closes at or above its 70% barrier level on the related observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above the barrier level par; 1% loss for every 1% that index declines if it ends below barrier value
|
| Call: | Automatically at par starting on Nov. 21, 2023 and on any subsequent semiannual determination date if index closes above initial level
|
| Initial level: | 4,191.98
|
| Coupon barrier: | 2,934.386, 70% of initial level
|
| Barrier level: | 2,934.386, 70% of initial level
|
| Pricing date: | May 19, 2023
|
| Settlement date: | May 24, 2023
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40441X6C9
|
|
|
© 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.
