Published on 12/20/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $359,000 autocallable buffered notes with step-up premium on S&P, Russell
By Kiku Steinfeld
Chicago, Dec. 20 – HSBC USA Inc. priced $359,000 of 0% autocallable buffered notes with step-up premium due April 29, 2027 linked to 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 7% annualized premium if the indexes close at or above its initial level on any annual observation date.
If the notes are not called, the payout will be par unless either index falls below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable buffered notes with step-up premium
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Underlying index: | S&P 500 index and Russell 2000 index
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Amount: | $359,000
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Maturity: | April 29, 2027
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 7% annualized premium if each index closes at or above its initial level on any annual observation date
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Payout at maturity: | If the notes are not called, par unless either index falls below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser performing index beyond buffer
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Initial levels: | 1,890.475 for Russell, 4,175.20 for S&P
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Buffer levels: | 85% of initial levels
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Pricing date: | April 26
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Settlement date: | April 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40439JMY8
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