Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.63 million autocallable barrier notes with step-up premium on Nvidia, AMD
By William Gullotti
Buffalo, N.Y., Sept. 26 – HSBC USA Inc. priced $2.63 million of 0% autocallable barrier notes with step-up premium due Sept. 26, 2025 linked to the performance of the stocks of Advanced Micro Devices, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 19% annualized call premium if each stock closes at or above its call level, 85% of initial level, on any monthly observation date starting Dec. 21.
If each stock finishes at or above call level, the payout at maturity will be par plus 57%.
If the worst performer finishes below its call level but at or above its 60% barrier level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performer 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 stocks: | Advanced Micro Devices, Inc., Nvidia Corp.
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| Amount: | $2,625,000
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| Maturity: | Sept. 26, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above call level, par plus 57%; if worst performer finishes below call level but not below barrier level, par; otherwise, investors will lose 1% for each 1% decline of worst performer from its initial level
|
| Call: | At par plus 19% annualized premium if each stock closes at or above 85% of initial level on any monthly observation date starting Dec. 21
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| Initial levels: | $74.48 for AMD, $132.61 for Nvidia
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| Barrier levels: | $44.688 for AMD, $79.566 for Nvidia; 60% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 4%
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| Cusip: | 40441XNY2
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