Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $265,000 autocallable barrier notes linked to Dow, Russell, Nasdaq
New York, March 28 – HSBC USA Inc. priced $265,000 of 0% autocallable barrier notes with step-up premium due July 6, 2026 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting on July 2, 2024, the notes will be called automatically if the level of the worst performing index is greater than or equal to its initial level on any annual observation date at a premium of 15.4% per year.
The payout at maturity will be par if the worst performing index finishes at or above its 70% 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, Russell 2000 index and Nasdaq-100 index
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| Amount: | $265,000
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| Maturity: | July 6, 2026
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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; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
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| Initial levels: | 34,407.60 for Dow Jones industrial average, 15,179.21 for Nasdaq-100, 1,888.734 for Russell 2000
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| Barrier levels: | 24,085.32 for Dow Jones industrial average, 10,625.447 for Nasdaq-100, 1,322.1138 for Russell 2000, 70% of initial levels
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| Call: | Starting on July 2, 2024, automatically if the level of the worst performing index is greater than or equal to its initial level on any annual observation date at a premium of 15.4% per year
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.5%
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| Cusip: | 40447ADY7
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