Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.18 million autocallable market participation notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., April 27 – HSBC USA Inc. priced $1.18 million of 0% market participation notes with autocall feature due April 7, 2025 tied to the performance of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Notes and Exchange Commission.
The notes will be automatically called at par plus a 7.25% call premium if each index closes at or above its initial level on April 3, 2024.
If the return of each index is positive, the payout at maturity will be par plus the return of the laggard index.
Otherwise, investors will receive par.
HSBC Notes (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market participation notes with autocall feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $1,176,000
|
| Maturity: | April 7, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its initial level, par plus return of laggard index; otherwise, par
|
| Call: | Automatically at par plus 7.25% call premium if each index closes at or above initial level on April 3, 2024
|
| Initial levels: | 4,109.31 for S&P, 1,802.484 for Russell
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | HSBC Notes (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40441XU57
|
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