Published on 3/14/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $355,000 11.29% autocallable yield notes tied to Ulta
By Kiku Steinfeld
Chicago, March 14 – HSBC USA Inc. priced $355,000 of 11.29% autocallable yield notes due Jan. 2, 2024 linked to the stock performance of Ulta Beauty, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
After six months, the notes will be called at par if the stock closes at or above its initial level on any monthly call date.
The payout at maturity will be par unless the stock finishes below its 70% trigger price, in which case investors will be fully exposed to the decline of the stock, payable in shares or cash at the option of the issuer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stock: | Ulta Beauty, Inc.
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| Amount: | $355,000
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| Maturity: | Jan. 2, 2024
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| Coupon: | 11.29%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger price, in which case lose 1% for each 1% decline from initial price, payable in shares or cash at the option of the issuer
|
| Call: | Automatically at par if stock closes at or above initial level on any monthly call date after six months
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| Initial share price: | $449.88
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| Trigger price: | $314.916, 70% of initial level
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| Pricing date: | Nov. 29, 2022
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| Settlement date: | Dec. 2, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40428HUF7
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