Published on 4/4/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $575,000 20.17% autocallable contingent income barrier notes linked to Lyft
New York, April 4 – HSBC USA Inc. priced $575,000 of autocallable contingent income barrier notes with memory coupon due July 6, 2026 linked to the class A common stock of Lyft, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.17%, paid quarterly, if the underlying stock closes at or above its 50% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The payout at maturity will be par if the stock ends at or above its 50% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting on Jan. 3, 2024 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Lyft, Inc.
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| Amount: | $575,000
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| Maturity: | July 6, 2026
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| Coupon: | 20.17%, paid quarterly, if the underlying stock closes at or above its 50% barrier level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value
|
| Call: | Automatically starting on Jan. 3, 2024 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date
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| Initial level: | $9.59
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| Coupon barrier: | $4.795, 50% of initial level
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| Barrier level: | $4.795, 50% of initial level
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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: | 3%
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| Cusip: | 40447ADX9
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