Chicago, March 18 – HSBC Bank plc priced $2.42 million of autocallable contingent income barrier notes with memory coupon due March 8, 2027 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 10.1%, paid quarterly, if the underlying stock closes at or above its 70% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting on Sept. 4, 2024 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
The payout at maturity will be par if the stock ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the stock declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC Bank plc
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $2,423,000
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| Maturity: | March 8, 2027
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| Coupon: | 10.1% annual rate, paid quarterly, if the underlying stock closes at or above its 70% barrier level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value
|
| Call: | Automatically starting on Sept. 4, 2024 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date
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| Initial level: | $178.22
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| Barrier level: | $124.754, 70% of initial level
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
|
| Cusip: | 40442B6D4
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