Published on 5/30/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.43 million autocallable yield notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, May 30 – HSBC USA Inc. priced $3.43 million of 7.8% autocallable yield notes due Nov. 25, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable semiannually.
The notes will be called at par plus the interest payment if the index closes at or above its initial level on any semiannual review date.
The payout at maturity will be par plus the final interest payment unless the index finishes below its trigger level, 75% of its initial level, in which case investors will lose 1.3333% for each 1% decline of the index beyond 25%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $3,426,000
|
| Maturity: | Nov. 25, 2024
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| Coupon: | 7.8%, payable semiannually
|
| Price: | Par
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on a semiannual observation date
|
| Payout at maturity: | Par plus final coupon unless index finishes below its trigger level, in which case 1.3333% loss for each 1% decline of index beyond 25%
|
| Initial level: | 1,773.717
|
| Trigger level: | 1,330.28775, 75% of initial level
|
| Pricing date: | May 19
|
| Settlement date: | May 25
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.15%
|
| Cusip: | 40447ABG8
|
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