By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – HSBC USA Inc. priced $8.39 million of 0% autocallable trigger Performance Leveraged Upside Securities due Sept. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level on Sept. 7, 2023, the notes will be called at par plus an 13.25% call premium.
If the index finishes at or above its initial level, the payout at maturity will be par plus 125% of the gain.
If the index falls but finishes at or above the 75% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from initial level.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $8,387,860
|
| Maturity: | Sept. 5, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index gains, par plus 125% of return; if index falls by up to 25%, par; otherwise, 1% loss per 1% decline from initial level
|
| Call: | Automatically at par plus a 13.25% call premium if the index closes at or above initial level on Sept. 7, 2023
|
| Initial level: | 3,955.0
|
| Trigger level: | 2,966.25; 75% of initial level
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 6
|
| Agent: | HSBC Securities (USA) Inc.
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 40439N478
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