Published on 7/22/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.45 million autocallable barrier notes with step-up premium on three indexes
By William Gullotti
Buffalo, N.Y., July 22 – HSBC USA Inc. priced $2.45 million of 0% autocallable barrier notes with step-up premium due July 22, 2027 linked to the lesser performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 12% annual call premium if each index closes at or above its initial level on any quarterly valuation date after one year.
If the notes are not called, the payout will be par unless any index has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing index 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 indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $2.45 million
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| Maturity: | July 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below barrier level, in which case investors will lose 1% for each 1% decline of least-performing index from its initial level
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| Call: | At par plus a 12% annual call premium if each index closes at or above its initial level on any quarterly valuation date after one year
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| Initial index levels: | 12,249.42 for Nasdaq, 3,936.69 for S&P, 1,799.324 for Russell
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| Barrier levels: | 8,574.594 for Nasdaq, 2,755.683 for S&P, 1,259.5268 for Russell; 70% of initial levels
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| Pricing date: | July 19
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| Settlement date: | July 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 3.625%
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| Cusip: | 40441XEQ9
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