Published on 5/10/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $128,000 autocallable barrier notes with step-up premium on index, ETF
Chicago, May 10 – HSBC USA Inc. priced $128,000 of 0% autocallable barrier notes with step-up premium due Oct. 7, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier closes at or above its initial level on any semiannual valuation date, the notes will be called at par plus an annualized call premium of 19.7%.
If each underlier finishes at or above its initial level, the payout at maturity will be par plus the 59.1% premium applicable to the final valuation date.
If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing underlier 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 assets: | VanEck Vectors Gold Miners ETF and the S&P 500 index
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| Amount: | $128,000
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| Maturity: | Oct. 7, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 59.1% if both underliers finish above initial level; par if worst performer declines but finishes above barrier level; otherwise, investors will lose 1% for each 1% decline of least performing underlier from its initial level
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| Call: | At par plus 19.7% annualized call premium if least performing underlier closes at or above initial level on any semiannual observation date
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| Initial levels: | 4,307.54 for S&P, $29.47 for ETF
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| Barrier levels: | 3,015.278 for S&P, $20.629 for ETF; 70% of initial levels
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.5%
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| Cusip: | 40439JLM5
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