Published on 9/25/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $559,000 autocallable barrier notes with step-up premium on indexes
Chicago, Sept. 25 – HSBC USA Inc. priced $559,000 of 0% autocallable barrier notes with step-up premium due Sept. 22, 2027 linked to the least performing of the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on Sept. 19, 2023 and on any subsequent annual observation date at a premium of 16% per year if all three indexes close above their initial levels.
If the notes have not been called, the payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable barrier notes with step-up premium
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $559,000
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| Maturity: | Sept. 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes have not been called and the worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
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| Call: | Automatically starting on Sept. 19, 2023 and on any subsequent annual observation date at a premium of 16% per year if all three indexes close above their initial levels
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| Initial levels: | 11,953.27 for Nasdaq, 1,812.843 for Russell, 3,899.89 for S&P
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| Barrier levels: | 8,367.289 for Nasdaq, 1,268.9901 for Russell, 2,729.923 for S&P, 70% of initial levels
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| Pricing date: | Sept. 19, 2022
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| Settlement date: | Sept. 22, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.625%
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| Cusip: | 40441XMY3
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