Published on 11/28/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.51 million autocallable contingent income barrier notes on Marvell
New York, Nov. 28 – HSBC USA Inc. priced $2.51 million of autocallable contingent income barrier notes due Dec. 30, 2024 linked to the common stock of Marvell Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.32%, paid monthly, if the underlying stock closes at or above its 67% barrier level on the related monthly observation date.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting May 24, 2024.
The payout at maturity will be par if the stock ends at or above its 67% barrier value.
Otherwise, investors will receive a number of shares per note equal to $1,000 divided by the stock’s initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable contingent income barrier notes
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Underlying stock: | Marvell Technology, Inc.
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Amount: | $2,505,000
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Maturity: | Dec. 30, 2024
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Coupon: | 17.32%, paid monthly, if the underlying stock closes at or above its 67% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above the barrier level, par; otherwise, receive a number of shares per note equal to $1,000 divided by the stock’s initial level
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Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting May 24, 2024
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Initial level: | $55.50
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Coupon barrier: | $37.185, 67% of initial level
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Barrier level: | $37.185, 67% of initial level
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40428HZE5
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