By William Gullotti
Buffalo, N.Y., Jan. 19 – HSBC USA Inc. priced $4.98 million of 0% autocallable trigger Performance Leveraged Upside Securities due Jan. 16, 2025 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 Jan. 23, 2024, the notes will be called at par plus a 14.8% 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: | $4,978,040
|
| Maturity: | Jan. 16, 2025
|
| 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 14.8% call premium if the index closes at or above initial level on Jan. 23, 2024
|
| Initial level: | 3,999.09
|
| Trigger level: | 2,999.3175; 75% of initial level
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Agent: | HSBC Securities (USA) Inc.
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 40441B421
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