Published on 11/17/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.81 million step down trigger autocalls on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – HSBC USA Inc. priced $11.81 million of 0% step down trigger autocallable notes due Nov. 14, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 9% annualized if each index closes at or above its initial level on any quarterly review date after one year or at or above its 75% step down threshold on the final valuation date.
If all indexes close above the step down threshold, the payout at maturity will be par plus 27%.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $11,814,000
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| Maturity: | Nov. 14, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index closes at or above the step down threshold, par plus 27%; otherwise, lose 1% for each 1% decline of worst performing index from its initial level
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| Call: | At par plus 9% annualized if each index closes at or above its initial level on any quarterly review date after one year or at or above its step down threshold on final valuation date
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| Initial index levels: | 4,646.71 for S&P, 2,389.582 for Russell, 15,985.57 for Nasdaq
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| Step down thresholds: | 3,485.033 for S&P, 1,792.187 for Russell, 11,989.178 for Nasdaq; 75% of initial levels
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| Pricing date: | Nov. 10
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| Settlement date: | Nov. 16
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| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 40390L867
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