Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.58 million autocallable barrier notes with step-up premium on S&P 500
New York, Feb. 29 – HSBC USA Inc. priced $2.58 million of 0% autocallable barrier notes with step-up premium due March 1, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Feb. 26, 2025 and on any subsequent quarterly observation date at a premium of 7.75% per year.
The payout at maturity will be par if the index finishes at or above its 80% barrier. Investors will lose 1% for every 1% that the 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 index: | S&P 500 index
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Amount: | $2,581,000
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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 index finishes at or above barrier level par; 1% loss for every 1% that index declines if it ends below the barrier level
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Initial level: | 5,069.53
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Barrier level: | 4,055.624, 80% of initial level
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Call: | Automatically starting Feb. 26, 2025 and on any subsequent quarterly observation date at a premium of 7.75% 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: | 2.025%
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Cusip: | 40447AZY3
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