Published on 5/31/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $360,000 autocallable yield notes linked to Walmart, JPMorgan, Amazon
By Angela McDaniels
Tacoma, Wash., May 31 – HSBC USA Inc. priced $360,000 of 10.6% autocallable yield notes due July 14, 2025 linked to the common stocks of Walmart Inc., JPMorgan Chase & Co. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning July 11, 2023, the notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly observation date.
The payout at maturity will be par unless the worst performing stock finishes below its barrier price, 50% of its initial share price, in which case investors will lose 1% for every 1% that the worst performing stock declines from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | Walmart Inc., JPMorgan Chase & Co. and Amazon.com, Inc.
|
| Amount: | $360,000
|
| Maturity: | July 14, 2025
|
| Coupon: | 10.6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless worst performing stock finishes below barrier price, in which case 1% loss for every 1% that worst performing stock declines from initial level
|
| Call: | Beginning July 11, 2023, automatically at par if each stock closes at or above its initial share price on any quarterly observation date
|
| Initial share prices: | $125.13 for Walmart, $111.89 for JPMorgan and $114.33 for Amazon
|
| Barrier prices: | $62.565 for Walmart, $55.945 for JPMorgan and $57.165 for Amazon, or 50% of initial share prices
|
| Pricing date: | July 6, 2022
|
| Trade date: | July 8, 2022
|
| Settlement date: | July 13, 2022
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40441XEK2
|
|
|
© 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.
