Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $470,000 13% autocallable contingent income barrier notes linked to Meta
Chicago, April 19 – HSBC USA Inc. priced $470,000 of autocallable contingent income barrier notes due Jan. 25, 2027 linked to the common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid monthly, if the underlying stock closes at or above its 70% barrier level on the related monthly observation date.
The securities will be called automatically starting July 22, 2024 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date.
The payout at maturity will be par if the stock ends at or above its 70% 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.
|
| Issue: | Autocallable contingent income barrier notes
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| Underlying stock: | Meta Platforms, Inc.
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| Amount: | $470,000
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| Maturity: | Jan. 25, 2027
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| Coupon: | 13% annual rate, paid monthly, if the underlying stock closes at or above its 70% barrier level on the related monthly observation date
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| Price: | Par
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| 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 July 22, 2024 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date
|
| Initial level: | $383.45
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| Coupon barrier: | $268.415, 70% of initial level
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| Barrier level: | $268.415, 70% of initial level
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.775%
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| Cusip: | 40447AWL4
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