Published on 9/1/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.62 million autocallable barrier notes with step-up premium on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Sept. 1 – HSBC USA Inc. priced $1.62 million of 0% autocallable barrier notes with step-up premium due June 23, 2025 linked to the lesser performing of the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium if each asset closes at or above its initial level on any annual observation date. The premium is 10.5% per year.
If the notes are not called, the payout will be par unless any asset has finished below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the least-performing asset from its initial 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 assets: | Russell 2000 index and iShares MSCI Emerging Markets ETF
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Amount: | $1.62 million
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Maturity: | June 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless either asset has finished below barrier level, in which case investors will lose 1% for each 1% decline of least-performing asset from its initial level
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Call: | At par plus a call premium if each asset closes at or above its initial level on any annual observation date; premium is 10.5% per year
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Initial asset levels: | 2,237.745 for index, $54.23 for ETF
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Barrier levels: | 1,566.4215 for index, $37.961 for ETF, 70% of initial levels
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Pricing date: | June 18
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Settlement date: | June 23
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0%
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Cusip: | 40439JCP8
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