By Wendy Van Sickle
Columbus, Ohio, Oct. 16 – HSBC USA Inc. priced $4.01 million of autocallable contingent income buffered notes due Nov. 13, 2024 linked to the stock performance of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 8% if the stock closes at or above the coupon trigger, 70% of the initial share price, on the relevant observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any monthly observation date after six months.
The payout at maturity will be par plus the final coupon if the stock finishes at or above its coupon trigger.
Otherwise, investors will receive shares of the stock calculated by dividing the principal amount by the initial value of the shares.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income buffered notes
|
| Underlying stock: | Nvidia Corp.
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| Amount: | $4,014,000
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| Maturity: | Nov. 13, 2024
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| Coupon: | 8%, payable monthly if the stock closes at or above coupon trigger level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if stock finishes at or above coupon trigger level; otherwise, shares of stock calculated by dividing principal amount by initial value of shares
|
| Call: | At par plus coupon if the stock closes at or above initial price on any monthly observation date after six months
|
| Initial price: | $457.98
|
| Coupon trigger: | $320.586; 70% of initial price
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 13
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40428HYJ5
|
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