Published on 9/23/2021 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.84 million autocallable barrier notes with step-up premium on four stocks
By William Gullotti
Buffalo, N.Y., Sept. 23 – HSBC USA Inc. priced $2.84 million of 0% autocallable barrier notes with step-up premium due July 8, 2024 linked to the performance of the stocks of Apple Inc., American Airlines Group Inc., Citigroup Inc. and Wayfair, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an 21.45% annualized call premium if each stock closes at or above its call level, 90% of initial level, on any quarterly observation date.
If each stock finishes at or above barrier level, 65% of initial level, the payout at maturity will be par plus 64.35%.
Otherwise, investors will lose 1% for each 1% decline of the worst performer 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 stocks: | Apple Inc., American Airlines Group Inc., Citigroup Inc., Wayfair, Inc.
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| Amount: | $2,836,000
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| Maturity: | July 8, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier level, par plus 64.35%; otherwise, investors will lose 1% for each 1% decline of worst performer from its initial level
|
| Call: | At par plus 21.45% annualized premium if each stock closes at or above 90% of initial level on any quarterly observation date
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| Initial levels: | $139.96 for Apple, $21.48 for American, $21.48 for Citi, $301.01 for Wayfair
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| Barrier levels: | $90.974 for Apple, $13.962 for American, $45.7665 for Citi, $195.6565 for Wayfair; 65% of initial levels
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| Pricing date: | July 2
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| Settlement date: | July 8
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 4%
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| Cusip: | 40439JFF7
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