Published on 4/5/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.79 million autocallable barrier notes with step-up premium on S&P
New York, April 5 – HSBC USA Inc. priced $1.79 million of 0% autocallable barrier notes with step-up premium due March 29, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a premium of 7.50% per year if the index closes at or above its initial level on any quarterly observation date starting March 26, 2025.
The payout at maturity will be par if the index finishes at or above its 80% barrier. Otherwise, investors will lose 1% for every 1% that the 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 index: | S&P 500 index
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| Amount: | $1,793,000
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| Maturity: | March 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that index declines from initial level
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| Call: | Automatically at par plus a premium of 7.50% per year if the index closes at or above its initial level on any quarterly observation date starting March 26, 2025
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| Initial level: | 5,218.19
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| Barrier level: | 4,174.552, 80% of initial level
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.025%
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| Cusip: | 40447AJ47
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