New Issue: HSBC sells $493,000 callable notes with contingent return on Netflix

By Kiku Steinfeld

Chicago, June 14 – HSBC USA Inc. priced $493,000 of callable notes with contingent return due Nov. 24, 2023 linked to the performance Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.15% if the stock closes at or above the 70% 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 70% barrier level, in which case investors will receive a number of shares equal to $1,000 divided by the stock’s initial share price or cash at the option of the issuer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable notes with contingent return
Underlying stock:	Netflix, Inc.
Amount:	$493,000
Maturity:	Nov. 24, 2023
Coupon:	9.15%, payable quarterly if stock closes at or above coupon trigger on related observation date
Price:	Par
Payout at maturity:	Par plus contingent coupon unless the stock finishes below barrier value, in which case investors will receive number of shares equal to $1,000 divided by the stock’s initial share price or cash equivalent
Call option:	At par on any quarterly coupon payment date
Initial level:	$678.80
Coupon trigger:	$475.16; 70% of initial value
Barrier value:	$475.16; 70% of initial value
Pricing date:	Nov. 19, 2021
Settlement date:	Nov. 24, 2021
Agent:	HSBC Securities (USA) Inc.
Fees:	1.75%
Cusip:	40428HRG9

© 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.