Published on 6/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $550,000 22% autocallable contingent income barrier notes linked to stocks
Chicago, June 22 – HSBC USA Inc. priced $550,000 of autocallable contingent income barrier notes due May 30, 2025 linked to the least performing of the equity securities of Amazon.com, Inc., Walt Disney Co. and Shopify Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22%, paid monthly, if each underlying stock closes at or above its 50% barrier level on the related monthly observation date.
The securities will be called automatically starting on Nov. 27, 2023 at par if the level of the worst performing 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 worst performing stock ends at or above its 50% barrier value. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stocks: | Amazon.com, Inc., Walt Disney Co. and Shopify Inc.
|
| Amount: | $550,000
|
| Maturity: | May 30, 2025
|
| Coupon: | 22% annual rate, paid monthly, if each underlying stock closes at or above its 50% barrier level on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above the barrier level par; 1% loss for every 1% that worst performing stock declines if it ends below barrier value
|
| Call: | Automatically starting on Nov. 27, 2023 at par if the level of the worst performing stock is greater than or equal to its initial level and on any subsequent monthly observation date
|
| Initial levels: | $116.75 for Amazon, $58.97 for Shopify, $89.07 for Disney
|
| Coupon barriers: | $58.375 for Amazon, $29.485 for Shopify, $44.535 for Disney, 50% of initial levels
|
| Barrier levels: | $58.375 for Amazon, $29.485 for Shopify, $44.535 for Disney, 50% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | June 1
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.1%
|
| Cusip: | 40447ABN3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
