Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.82 million contingent income barrier autocalls on BofA, JPMorgan, UBS
New York, April 19 – HSBC USA Inc. priced $2.82 million of autocallable contingent income barrier notes due April 15, 2027 linked to the common stocks of Bank of America Corp., JPMorgan Chase & Co. and UBS Group AG, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75%, paid quarterly, if each underlying stock closes at or above its 60% barrier level on the related quarterly observation date.
The securities will be called automatically at par if the closing level of the worst performing stock is greater than or equal to its initial level on any quarterly observation date starting on Oct. 9, 2024.
The payout at maturity will be par if the worst performing stock ends at or above its 60% barrier value. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines.
J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes
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| Underlying stocks: | Bank of America Corp., JPMorgan Chase & Co. and UBS Group AG
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| Amount: | $2.82 million
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| Maturity: | April 15, 2027
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| Coupon: | 11.75%, paid quarterly, if each underlying stock closes at or above its 60% barrier level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above the barrier level, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Call: | Automatically at par if the closing level of the worst performing stock is greater than or equal to its initial level on any quarterly observation date starting on Oct. 9, 2024
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| Initial levels: | $36.65 for Bank of America, $195.47 for JPMorgan Chase, $29.45 for UBS Group AG
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| Coupon barriers: | $21.99 for Bank of America, $117.282 for JPMorgan Chase, $17.67 for UBS Group AG, 60% of initial levels
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| Barrier levels: | $21.99 for Bank of America, $117.282 for JPMorgan Chase, $17.67 for UBS Group AG, 60% of initial levels
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| Pricing date: | April 10
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| Settlement date: | April 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 40447AZ80
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