By William Gullotti
Buffalo, N.Y., Jan. 11 – HSBC USA Inc. priced $1.52 million of callable notes with contingent return due Jan. 4, 2024 linked to the performance Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.6% if the stock closes at or above the 62.5% coupon trigger level on the related observation date.
HSBC may call the notes on any quarterly coupon payment date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 62.5% barrier level, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Callable notes with contingent return
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| Underlying stock: | Nvidia Corp.
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| Amount: | $1,523,000
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| Maturity: | Jan. 4, 2024
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| Coupon: | 13.6%, payable quarterly if stock closes at or above coupon trigger on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless stock finishes below barrier value, in which case number of shares equal to $1,000 divided by stock’s initial share price
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| Call option: | At par on any quarterly coupon payment date
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| Initial level: | $300.01
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| Coupon trigger: | $187.50625; 62.5% of initial value
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| Barrier value: | $187.50625; 62.5% of initial value
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 3
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40428HRQ7
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