Published on 3/12/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.31 million autocallable barrier notes with step-up premium on two indexes
New York, March 12 – HSBC USA Inc. priced $6.31 million of 0% autocallable barrier notes with step-up premium due Feb. 28, 2029 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 10.85% per year if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly observation date starting on May 22, 2024.
The payout at maturity will be par if the worst performing index finishes at or above its 75% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial 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: | Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $6.31 million
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| Maturity: | Feb. 28, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial
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| Call: | Automatically at a premium of 10.85% per year if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly observation date starting on May 22, 2024
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| Initial levels: | 4,872.57 for Euro Stoxx 50, 2,016.688 for Russell 2000
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| Barrier levels: | 3,654.4275 for Euro Stoxx 50, 1,512.516 for Russell 2000, 75% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.85%
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| Cusip: | 40447AD76
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