Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $452,000 autocallable yield notes linked to General Electric
By Angela McDaniels
Tacoma, Wash., Sept. 22 – HSBC USA Inc. priced $452,000 of 10.37% autocallable yield notes due Oct. 10, 2023 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning March 7, 2023, the notes will be automatically called at par if the stock closes at or above its initial share price on any monthly call observation date.
The payout at maturity will be par unless the stock return is less than negative 27%, in which case investors will receive a number of GE shares equal to $1,000 divided by the initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
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| Underlying indexes: | General Electric Co.
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| Amount: | $452,000
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| Maturity: | Oct. 10, 2023
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| Coupon: | 10.37% per year, payable monthly
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| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than barrier price, in which case 13.8581 GE shares per $1,000 principal amount of notes
|
| Call: | Beginning March 7, 2023, automatically at par if stock closes at or above initial share price on any monthly call observation date
|
| Initial share price: | $72.16
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| Barrier price: | $52.6768, or 73% of initial level
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| Pricing date: | Sept. 6, 2022
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| Settlement date: | Sept. 9, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40428HTU6
|
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