Published on 12/4/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $437,000 autocallable barrier notes with step-up premium on indexes
By Kiku Steinfeld
Chicago, Dec. 4 – HSBC USA Inc. priced $437,000 of 0% autocallable barrier notes with step-up premium due April 27, 2026 linked to the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting on October 24, 2023 if the level of the worst performing index is greater than or equal to its initial level on any biannual observation date at a premium of 12.72% per year.
The payout at maturity will be par if the worst performing index finishes at or above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier 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 indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $437,000
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| Maturity: | April 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above barrier level par; 1% loss for every 1% that worst performing index declines if it ends below the barrier level
|
| Initial levels: | 33,808.96 for Dow, 13,000.77 for Nasdaq, 1,791.506 for Russell
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| Barrier levels: | 23,666.272 for Dow, 9,100.539 for Nasdaq, 1,254.0542 for Russell, 70% of initial level
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| Call: | Automatically starting on October 24, 2023 if the level of the worst performing index is greater than or equal to its initial level on any biannual observation date at a premium of 12.72% per year
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40441X5D8
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