By Sarah Lizee
Olympia, Wash., Jan. 9 – HSBC USA Inc. priced $710,000 of autocallable contingent income barrier notes due Jan. 3, 2023 linked to the least performing of the common stocks of Micron Technology, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 12.1% if each stock closes at or above its trigger level, 50% of its initial share price, on the observation date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any coupon observation date after six months.
The payout at maturity will be par plus the final coupon unless either stock finishes below its trigger level, in which case investors will be fully exposed to the decline of that stock.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes
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| Underlying stocks: | Micron Technology, Inc. and Nvidia Corp.
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| Amount: | $710,000
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| Maturity: | Jan. 3, 2023
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| Coupon: | 12.1%, payable quarterly if each stock closes at or above trigger level on determination date for that period
|
| Call: | At par plus the contingent coupon if each stock closes at or above its initial share price on any coupon observation date after six months
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above trigger level, par; otherwise, investors will be fully exposed to the decline of worst performing stock
|
| Initial level: | $53.21 for Micron and $232.32 for Nvidia
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| Trigger/barrier level: | $26.605 for Micron and $116.16 for Nvidia, 50% of initial price
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| Pricing date: | Dec. 30
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| Settlement date: | Jan. 3
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
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| Cusip: | 40435UV76
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