Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.65 million 9.58% autocallable contingent income barrier notes on Amazon
New York, Jan. 22 – HSBC USA Inc. priced $6.65 million of autocallable contingent income barrier notes with memory coupon due Jan. 19, 2027 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.58%, paid quarterly, if the underlying stock closes at or above its 65% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The payout at maturity will be par if the stock ends at or above its 65% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
Starting on July 16, 2024, the securities will be called automatically at par if the stock closes at or above its initial share price on any quarterly observation date.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $6,648,000
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| Maturity: | Jan. 19, 2027
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| Coupon: | 9.58%, paid quarterly, if the underlying stock closes at or above its 65% barrier level on the related quarterly observation date, plus any previously unpaid coupons
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| 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
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| Call: | Starting on July 16, 2024, automatically at par if the stock closes at or above its initial share price on any quarterly observation date
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| Initial level: | $153.16
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| Coupon barrier: | $99.554, 65% of initial level
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| Barrier level: | $99.554, 65% of initial level
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AWD2
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