Published on 7/12/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10 million autocallable return notes linked to four stocks
By Wendy Van Sickle
Columbus, Ohio, July 12 – HSBC USA Inc. priced $10 million of 0% autocallable return notes due July 10, 2026 linked to the common stocks of salesforce.com, inc., Facebook, Inc., Capital One Financial Corp. and Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 15.65% a year if each asset closes at or above its initial level on any annual call date.
If the notes are not called, the payout at maturity will be par plus 78.25% unless any asset finishes below the trigger level, 60% of the initial level, in which case investors will lose 1% for every 1% that the least performing asset declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable return notes
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| Underlying assets: | salesforce.com, inc., Facebook, Inc., Capital One Financial Corp. and Morgan Stanley
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| Amount: | $10 million
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| Maturity: | July 10, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 78.25% unless any asset finishes below trigger level, in which case 1% loss for every 1% that the least performing asset declines from initial level
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| Call: | Automatically at par plus call premium of 15.65% a year if each asset closes at or above initial level on any annual call date
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| Initial index level: | $250.25 for salesforce.com, $352.78 for Facebook, $155.50 for Capital One and $90.21 for Morgan Stanley
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| Trigger level: | $150.15 | for salesforce.com, $211.668 for Facebook, $93.30 for Capital One and $54.126 for Morgan Stanley; 60% of initial level
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| Pricing date: | July 6
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| Settlement date: | July 9
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 40439JFX8
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