Published on 9/18/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $508,000 0% autocallable yield notes linked to three stocks
Chicago, Sept. 18 – HSBC USA Inc. priced $508,000 of autocallable yield notes due Sept. 3, 2024 linked to the least performing of the common stocks of Advanced Micro Devices, Inc., Apple Inc. and Coca-Cola Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5% paid monthly.
The securities will be called automatically if the level of the worst performing stock is greater than or equal to its initial level and on any quarterly call determination date.
If the worst performing stock ends above its 50% downside threshold the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Advanced Micro Devices, Inc., Apple Inc. and Coca-Cola Co.
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| Amount: | $508,000
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| Maturity: | Sept. 3, 2024
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| Coupon: | 12.5% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level par; otherwise, 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically if the level of the worst performing stock is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | $88.49 for AMD, $161.38 for Apple, $62.73 for Coca-Cola
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| Downside thresholds: | $44.245 for AMD, $80.69 for Apple, $31.365 for Coca-Cola, 50% of initial levels
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| Pricing date: | Aug. 29, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.25%
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| Cusip: | 40441XJY7
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