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HSBC to price seven-year autocallable CDs linked to HSBC Vantage5
By Marisa Wong
Morgantown, W.Va., Feb. 8 – HSBC Bank USA, NA plans to price 0% autocallable certificates of deposit due Feb. 27, 2025 linked to the HSBC Vantage5 Index (USD) Excess Return, according to a term sheet.
The CDs will be automatically called at par plus a call premium of 5.5% per year if the index closes at or above the call threshold on any annual call observation date. The call threshold is 102.5% of the initial index level on the first call observation date and steps up by 250 basis points each year to a call threshold of 115% of the initial index level on the sixth and final call observation date.
If the index return is greater than or equal to zero, the payout at maturity will be par plus the index return. If the index return is less than zero, the payout will be par.
HSBC Securities (USA) Inc. is the agent. Incapital LLC is distributor.
The CDs will price Feb. 22.
The Cusip number is 40434YUP0.
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