Published on 3/22/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10.86 million autocallable contingent income barrier notes with memory
New York, March 22 – HSBC USA Inc. priced $10.86 million of autocallable contingent income barrier notes with memory coupon due March 22, 2027 linked to the common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.24%, paid quarterly, if the underlying stock closes at or above its 60% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
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 quarterly observation date starting on Sept. 18, 2024.
The payout at maturity will be par if the stock ends at or above its 60% 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.
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| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Intel Corp.
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| Amount: | $10,858,000
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| Maturity: | March 22, 2027
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| Coupon: | 11.24%, paid quarterly, if the underlying stock closes at or above its 60% 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; otherwise, 1% loss for every 1% that stock declines from 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 quarterly observation date starting on Sept. 18, 2024
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| Initial level: | $42.64
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| Coupon barrier: | $25.584, 60% of initial level
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| Barrier level: | $25.584, 60% of initial level
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AK45
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