Published on 12/7/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $793,000 9% autocallable contingent income barrier notes on TJX
Chicago, Dec. 7 – HSBC USA Inc. priced $793,000 of autocallable contingent income barrier notes with memory coupon due Oct. 31, 2025 linked to the common stock of TJX Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if the underlying stock closes at or above its 55% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting on April 26, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
The payout at maturity will be par if the stock ends at or above its 55% barrier value. Otherwise, investors will lose 1% for every 1% that the stock declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | TJX Cos., Inc.
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| Amount: | $793,000
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| Maturity: | Oct. 31, 2025
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| Coupon: | 9% annual rate, paid quarterly, if the underlying stock closes at or above its 55% barrier level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value
|
| Call: | Automatically starting on April 26, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date
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| Initial level: | $71.91
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| Coupon barrier: | $39.5505, 55% of initial level
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| Barrier level: | $39.5505, 55% of initial level
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| Pricing date: | Oct. 27, 2022
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| Settlement date: | Oct. 31, 2022
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
|
| Cusip: | 40441XSF8
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