Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $500,000 autocallable barrier notes with step-up premium linked to stocks
Chicago, Aug. 29 – HSBC USA Inc. priced $500,000 of 0% autocallable barrier notes with step-up premium due Aug. 25, 2027 linked to the least performing of the common stocks of Blackstone Inc., Blackrock, Inc. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on Aug. 22, 2023 and on any subsequent quarterly observation date at a premium of 25% per year if each stock closes above its initial level.
The maturity date premium is 125%.
If the notes are not called, the payout at maturity will be par if the worst performing stock finishes at or above its 60% barrier. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below the barrier level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable barrier notes with step-up premium
|
| Underlying stocks: | Blackstone Inc., Blackrock, Inc. and Morgan Stanley
|
| Amount: | $500,000
|
| Maturity: | Aug. 25, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If called because all three stocks have closed above initial levels, par plus 125%; if worst performing stock finishes at or above barrier level par; 1% loss for every 1% that worst performing stock declines if it ends below the barrier level
|
| Call: | Automatically starting on Aug. 22, 2023 and on any subsequent quarterly observation date at a premium of 25% per year if each stock closes above initial level
|
| Initial levels: | $695.05 for Blackrock, $101.00 for Blackstone, $88.46 for Morgan Stanley
|
| Barrier levels: | $417.03 for Blackrock, $60.60 for Blackstone, $53.076 for Morgan Stanley, 60% of initial levels
|
| Pricing date: | Aug. 22, 2022
|
| Settlement date: | Aug. 25, 2022
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 4%
|
| Cusip: | 40441XJL5
|
|
|
© 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.
