New York, Feb. 21 – HSBC USA Inc. priced $1.72 million of autocallable contingent income barrier notes due March 14, 2025 linked to the common stock of Macy's, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid monthly, if the underlying stock closes at or above its 60% barrier level on the related monthly observation date.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting Aug. 9, 2024.
The payout at maturity will be par if the stock ends at or above its 60% barrier value.
Otherwise, investors will receive a number of shares per note equal to $1,000 divided by the stock’s initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable contingent income barrier notes
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Underlying stock: | Macy's, Inc.
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Amount: | $1.72 million
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Maturity: | March 14, 2025
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Coupon: | 15%, paid monthly, if the underlying stock closes at or above its 60% barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above the barrier level, par; otherwise, receive a number of shares per note equal to $1,000 divided by the stock’s initial level
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Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly observation date starting Aug. 9, 2024
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Initial level: | $19.08
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Coupon barrier: | $11.448, 60% of initial level
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Barrier level: | $11.448, 60% of initial level
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40428HZZ8
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