Published on 7/2/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $391,000 autocallable barrier notes with step-up premium on three indexes
By Kiku Steinfeld
Chicago, July 3– HSBC USA Inc. priced $391,000 of 0% autocallable barrier notes with step-up premium due Feb. 10, 2026 linked to the lesser performing of the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12% annual call premium if each index closes at or above its initial level on any semiannual valuation date.
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: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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Amount: | $391,000
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Maturity: | Feb. 10, 2026
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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
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Call: | At par plus a 12% annual call premium if each index closes at or above its initial level on any semiannual valuation date
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Initial index levels: | 34,156.69 for Dow, 12,728.27 for Nasdaq, 1,972.609 for Russell
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Barrier levels: | 23,909.683 for Dow, 8,909.789 for Nasdaq, 1,380.8263 for Russell; 70% of initial levels
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Pricing date: | Feb. 7, 2023
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Settlement date: | Feb. 10, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40441XK82
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