New Issue: HSBC sells $988,000 10.6% yield notes with physical delivery on Walt Disney

By Kiku Steinfeld

Chicago, June 20 – HSBC USA Inc. priced $988,000 of 10.6% yield notes with physical delivery due Feb. 5, 2024 linked to the stock performance of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless the stock finishes below its 70% trigger price, in which case investors will receive a number of shares equal to the principal divided by the initial share price or, at the issuer’s option, the cash equivalent.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Yield notes with physical delivery
Underlying stock:	Walt Disney Co.
Amount:	$988,000
Maturity:	Feb. 5, 2024
Coupon:	10.6%, payable quarterly
Price:	Par
Payout at maturity:	Par unless the stock finishes below its trigger price, in which case a number of shares equal to the principal divided by the initial share price or the cash equivalent
Initial share price:	$108.49
Trigger price:	70% of initial level
Pricing date:	Jan. 31, 2023
Settlement date:	Feb. 3, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	0.375%
Cusip:	40428HUV2

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