Published on 3/3/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.89 million autocallable contingent income barrier notes on three stocks
By Kiku Steinfeld
Chicago, March 3 – HSBC USA Inc. priced $1.89 million of autocallable contingent income barrier notes due Sept. 16, 2024 linked to the stocks of Tesla, Inc., Roku, Inc. and Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 23.37% if each stock closes at or above the coupon barrier level, 60% of its initial level, on the determination date for that month.
The notes will be called at par if each stock closes at or above the initial price on any quarterly call date after six months.
If the notes are not called and each stock finishes at or above the 50% final barrier level, the payout at maturity will be par. Otherwise, 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.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stocks: | Tesla, Inc., Roku, Inc. and Zillow Group, Inc.
|
| Amount: | $1,888,000
|
| Maturity: | Sept. 16, 2024
|
| Coupon: | 23.37% per year, payable monthly if each stock closes at or above coupon barrier level on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par if each stock finishes at or above final barrier level; otherwise, 1% loss for each 1% decline of the least-performing stock from initial level
|
| Call: | Par if each stock closes at or above initial price on any quarterly call date after six months
|
| Initial levels: | $736.27 for Tesla, $328.30 for Roku, $91.83 for Zillow
|
| Coupon barrier levels: | $441.762 for Tesla, $196.98 for Roku, $55.098 for Zillow; 60% of initial prices
|
| Final barrier levels: | $368.135 for Tesla, $164.15 for Roku, $45.915 for Zillow; 50% of initial prices
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 15
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40439JLX1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
