Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1 million callable notes with contingent return linked to S&P 500
New York, Nov. 7 – HSBC USA Inc. priced $1 million of callable notes with contingent return due Dec. 3, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The annualized coupon of 8.5% will be paid monthly if the underlying index closes at or above its 80% barrier level on the related monthly observation date
The notes may be called starting on April 30, 2024 and on any subsequent monthly observation date.
The payout at maturity will be par if the index finishes at or above its 80% barrier. Investors will lose 1% for every 1% that the 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: | Callable notes with contingent return
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | Dec. 3, 2024
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Coupon: | 8.5%, paid monthly, if the underlying index closes at or above its 80% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above the barrier level par; 1% loss for every 1% that index declines if it ends below barrier value
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Initial level: | 4,193.8
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Coupon barrier: | 3,355.04, 80% of initial level
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Barrier level: | 3,355.04, 80% of initial level
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Call: | Starting on April 30, 2024 and on any subsequent monthly observation date
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Pricing date: | Oct. 31
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Settlement date: | Nov. 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40447ANT7
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