Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $8 million 12.15% contingent income autocalls on indexes
New York, April 10 – HSBC USA Inc. priced $8 million of contingent income autocallable securities due Oct. 9, 2024, subject to adjustment as described in the accompanying Equity Index Underlying Supplement. linked to the Nasdaq-100 index, S&P 500 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.15%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting July 5 at par on any quarterly review date if each index closes at or above its initial level.
At maturity the payout will be par unless the worst performing index closes below its 65% principal barrier level in which case investors will be fully exposed to the decline of the worst performing index.
HSBC Securities is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Euro Stoxx 50 index
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| Amount: | $8 million
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| Maturity: | Oct. 9, 2024, subject to adjustment as described in the accompanying Equity Index Underlying Supplement.
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| Coupon: | 12.15%, paid quarterly, if each underlying index closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its 65% principal barrier level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting July 5 at par on any quarterly review date if each index closes at or above its initial level
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| Initial levels: | 4,315.32 for Euro Stoxx 50, 13,100.08 for Nasdaq-100, 4,100.60 for S&P 500
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| Downside thresholds: | 3,020.724 for Euro Stoxx 50, 9,170.056 for Nasdaq-100, 2,870.42 for S&P 500, 70% of initial level
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| Pricing date: | April 4
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| Settlement date: | April 12
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| Agent: | HSBC Securities
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| Fees: | 0%
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| Cusip: | 40441X4M9
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