Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $582,000 autocallable barrier notes with step-up premium on Dow, S&P
Chicago, Feb. 8 – HSBC USA Inc. priced $582,000 of 0% autocallable barrier notes with step-up premium due May 24, 2027 linked to the least performing of the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on May 21, 2024 if the level of the worst performing index is greater than or equal to its initial level and on any subsequent semiannual observation date at a premium of 12% per year.
The maturity date premium is 48%.
If the notes are not called, the payout at maturity will be par if the worst performing index finishes at or above its 75% 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: | Dow Jones industrial average and S&P 500 index
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| Amount: | $582,000
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| Maturity: | May 24, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 48%; if worst performing index declines but 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 May 21, 2024 if the level of the worst performing index is greater than or equal to its initial level and on any subsequent semiannual observation date at a premium of 12% per year
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| Initial levels: | 33,426.63 for Dow, 4,191.98 for S&P
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| Barrier levels: | 25,069.9725 for Dow, 3,143.985 for S&P, 75% of initial levels
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| Pricing date: | May 19, 2023
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| Settlement date: | May 24, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40441X6H8
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