Published on 4/14/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $920,000 autocallable contingent income barrier notes on three stocks
Chicago, April 14 – HSBC USA Inc. priced $920,000 of autocallable contingent income barrier notes due May 28, 2024 linked to Nvidia Corp., Pioneer Natural Resources Co. and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 30% if each stock closes at or above its coupon barrier level, 60% of the initial level, on the determination date for that period.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any quarterly observation date starting after six months.
If the notes are not called and each stock finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the least performing stock, payable as shares.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes
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| Underlying stocks: | Nvidia Corp., Pioneer Natural Resources Co. and Bank of America Corp.
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| Amount: | $920,000
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| Maturity: | May 28, 2024
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| Coupon: | 30% annual rate, payable quarterly if each stock closes at or above coupon barrier level on determination date for that period
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger level, par; otherwise, full exposure to loss of worst performing stock
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| Call: | Automatically at par plus the coupon if each stock closes at or above its initial price on any quarterly observation date starting after six months
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| Initial levels: | $181.77 for Nvidia, $276.53 for Pioneer, $35.99 for BofA
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| Coupon barrier levels: | $109.062 for Nvidia, $165.918 for Pioneer, $21.594 for BofA; 60% of initial prices
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| Barrier levels: | $109.062 for Nvidia, $165.918 for Pioneer, $21.594 for BofA; 60% of initial prices
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| Pricing date: | May 17, 2022
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| Settlement date: | May 25, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.75%
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| Cusip: | 40428HTC6
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