Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.15 million callable notes with contingent return linked to S&P
Chicago, May 3 – HSBC USA Inc. priced $1.15 million of 8.8% callable notes with contingent return due Nov. 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an 8.8% monthly coupon if the index closes above the 70% coupon barrier level on the related observation date.
The notes may be called at par on any monthly observation date.
The payout at maturity will be par if the index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the index declines if it finishes below the barrier level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable notes with contingent return
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,146,000
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| Maturity: | Nov. 3, 2025
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| Coupon: | 8.8% annual rate, paid monthly, if the underlying index closes at or above its 70% barrier level on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above the barrier level par; 1% loss for every 1% that index declines if it ends below barrier value
|
| Initial level: | 4,055.99
|
| Coupon barrier: | 2,839.193, 70% of initial level
|
| Barrier level: | 2,839.193, 70% of initial level
|
| Call: | At par on any monthly observation date
|
| Pricing date: | April 26
|
| Settlement date: | May 1
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40441X5V8
|
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