Published on 12/19/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1 million autocallable barrier notes with step-up premium on four stocks
By Kiku Steinfeld
Chicago, Dec. 20 – HSBC USA Inc. priced $1 million of 0% autocallable barrier notes with step-up premium due Dec. 16, 2024 linked to the least performing of the stocks of Nucor Corp., Alphabet Inc., Five Below, Inc. and Block Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 17.25% annualized call premium if each stock closes at or above 85% of its initial level on any quarterly observation date.
The payout will be par unless any stock finishes below its 65% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing stock from its 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 stocks: | Nucor Corp., Alphabet Inc., Five Below, Inc. and Block Inc.
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Amount: | $1 million
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Maturity: | Dec. 16, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing stock from its initial level
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Call: | At par plus 17.25% annualized premium if each stock closes at or above 85% of its initial level on any quarterly observation date
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Initial levels: | $115.55 for Nucor, $2,916.53 for Alphabet, $191.74 for Five Below, $175.44 for Block
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Barrier levels: | $75.1075 for Nucor, $1,895.7445 for Alphabet, $124.631 for Five Below, $114.036 for Block; 65% of initial levels
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Pricing date: | Dec. 13
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Settlement date: | Dec. 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 4%
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Cusip: | 40439JVH5
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