Published on 12/3/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.78 million autocallable barrier notes with step-up premium on three indexes
By William Gullotti
Buffalo, N.Y., Dec. 3 – HSBC USA Inc. priced $1.78 million of 0% autocallable barrier notes with step-up premium due Nov. 26, 2024 linked to the lesser performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 8.15% annualized call premium if each index closes at or above its initial level on any semiannual observation date after one year.
If the notes are not called, the payout will be par unless any index has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial 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 indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $1,781,000
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| Maturity: | Nov. 26, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
|
| Call: | At par plus an 8.15% annualized call premium if each index closes at or above its initial level on any semiannual observation date after one year
|
| Initial index levels: | 16,380.98 for Nasdaq, 35,619.25 for Dow, 2,331.348 for Russell
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| Barrier levels: | 11,466.686 for Nasdaq, 24,933.475 for Dow, 1,631.9436 for Russell; 70% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 26
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40439JRJ6
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