Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $830,000 phoenix quarterly review notes with memory coupon on AMD
Chicago, Aug. 21 – HSBC USA Inc. priced $830,000 of phoenix quarterly review notes with memory coupon feature due Aug. 23, 2023 linked to Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.25% paid quarterly if the stock closes at or above its 55% coupon barrier on the observation date for that quarter, plus any previously unpaid coupons.
The securities will be called automatically starting Nov. 18, 2022 at par and on any subsequent quarterly review date if the stock closes above its initial level.
The payout at maturity will be par if the stock closes above 55% of its initial level.
Otherwise, investors will be fully exposed to the decline of the stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Phoenix quarterly review notes with memory coupon feature
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| Underlying stock: | Advanced Micro Devices, Inc.
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| Amount: | $830,000
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| Maturity: | Aug. 23, 2023
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| Coupon: | 16.25% annual rate, paid quarterly if the stock closes at or above its 55% coupon barrier on the observation date for that quarter, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if stock finishes at or above its trigger level, otherwise full exposure to the decline of stock
|
| Call: | Automatically starting Nov. 18, 2022 at par and on any subsequent quarterly review date if stock closes above initial level
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| Initial level: | $102.31
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| Coupon barrier: | $56.2705, 55% of initial level
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| Trigger level: | $56.2705, 55% of initial level
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| Pricing date: | Aug. 5, 2022
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| Settlement date: | Aug. 10, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 40441XHE3
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