Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $301,000 autocallable contingent income barrier notes linked to Amazon
By Angela McDaniels
Tacoma, Wash., Oct. 10 – HSBC USA Inc. priced $301,000 of autocallable contingent income barrier notes due March 28, 2024 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if the underlying stock closes at or above its 60% coupon barrier level on the related quarterly observation date.
Starting March 23, 2023, the securities will be called automatically at par if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par if the stock ends at or above its 60% barrier value. Otherwise, investors will lose 1% for every 1% that the stock declines.
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: | Amazon.com, Inc.
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| Amount: | $301,000
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| Maturity: | March 28, 2024
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| Coupon: | 10% annual rate, paid quarterly if underlying stock closes at or above coupon barrier level on related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above barrier value, par; otherwise, 1% loss for every 1% that stock declines
|
| Call: | Starting March 23, 2023, automatically at par if stock closes at or above initial level on any quarterly observation date
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| Initial share price: | $113.78
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| Coupon barrier level: | $68.268, 60% of initial share price
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| Barrier level: | $68.268, 60% of initial share price
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| Pricing date: | Sept. 23, 2022
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| Settlement date: | Sept. 28, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.775%
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| Cusip: | 40441XNK2
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