Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $577,000 autocallable contingent income barrier notes on indexes
Chicago, May 18 – HSBC USA Inc. priced $577,000 of autocallable contingent income barrier notes due June 30, 2025 linked to the least performing of the S&P 500 index, Nasdaq-100 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.64%, paid quarterly, if each underlying index closes at or above its 70% barrier level on the related quarterly observation date.
The securities will be called automatically starting on Dec. 27, 2022 at par if the level of the worst performing index is greater than or equal to its initial level and on any subsequent quarterly observation date.
The payout at maturity will be par if the worst performing index ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the worst performing index declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount: | $577,000
|
| Maturity: | June 30, 2025
|
| Coupon: | 8.64% annual rate, paid quarterly, if each underlying index closes at or above its 70% barrier level on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above the barrier level par; 1% loss for every 1% that worst performing index declines if it ends below barrier value
|
| Call: | Automatically starting on Dec. 27, 2022 at par if the level of the worst performing index is greater than or equal to its initial level and on any subsequent quarterly observation date
|
| Initial levels: | 31,500.68 for Dow, 12,105.85 for Nasdaq, 3,911.74 for S&P
|
| Coupon barriers: | 22,050.476 for Dow, 8,474.095 for Nasdaq, 2,738.218 for S&P, 70% of initial levels
|
| Barrier levels: | 22,050.476 for Dow, 8,474.095 for Nasdaq, 2,738.218 for S&P, 70% of initial levels
|
| Pricing date: | June 24, 2022
|
| Settlement date: | June 29, 2022
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40441XBL3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
