Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $250,000 market participation notes with autocall feature on S&P 500
By Kiku Steinfeld
Chicago, April 24 – HSBC USA Inc. priced $250,000 of 0% market participation notes with autocall feature due July 20, 2026 tied to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 9% premium if the index closes at or above its initial level on Jan. 15, 2025.
If the return of the index is positive, the payout at maturity will be par plus the index return.
Otherwise, investors will receive par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market participation notes with autocall feature
|
| Underlying index: | S&P 500 index
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| Amount: | $250,000
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| Maturity: | July 20, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes above its initial level, par plus the index return; otherwise, par
|
| Call: | At par plus a 9% premium if the index closes at or above its initial level on Jan. 15, 2025
|
| Initial level: | 4,522.79
|
| Pricing date: | July 27, 2023
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| Settlement date: | Aug. 1, 2023
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.275%
|
| Cusip: | 40447AGY4
|
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