Published on 11/1/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.15 million autocallable barrier notes with step-up premium on three indexes
New York, Nov. 1 – HSBC USA Inc. priced $2.15 million of 0% autocallable barrier notes with step-up premium due Nov. 2, 2026 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically with a premium of 10.7% per year if the closing level of the worst performing index is greater than or equal to its initial level on any semiannual observation date starting October 30, 2024.
The payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from 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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $2,148,000
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| Maturity: | Nov. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically with a premium of 10.7% per year if the closing level of the worst performing index is greater than or equal to its initial level on any semiannual observation date starting October 30, 2024
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| Initial levels: | 32,784.30 for Dow Jones industrial average, 1,657.003 for Russell 2000, 4,137.23 for S&P 500
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| Barrier levels: | 22,949.01 for Dow Jones industrial average, 1,159.9021 for Russell 2000, 2,896.061 for S&P 500, 70% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447ANP5
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