Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $785,000 18.25% autocallable contingent income barrier notes tied to Boeing
Chicago, Sept. 22 – HSBC USA Inc. priced $785,000 of autocallable contingent income barrier notes due Oct. 23, 2023 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.25%, paid monthly, if the underlying stock closes at or above its 67% barrier level on the related monthly observation date.
The securities will be called automatically starting March 20, 2023 at par if the level of the 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 stock ends at or above its 67% barrier value. Otherwise, investors will lose 1% for every 1% that the stock declines, payable in shares.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes
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| Underlying stock: | Boeing Co.
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| Amount: | $785,000
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| Maturity: | Oct. 23, 2023
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| Coupon: | 18.25% annual rate, paid monthly, if the underlying stock closes at or above its 67% barrier level on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above the barrier level par; 1% loss for every 1% that stock declines if it ends below barrier value, payable in shares
|
| Call: | Automatically starting March 20, 2023 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date
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| Initial level: | $144.29
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| Coupon barrier: | $96.6743, 67% of initial level
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| Barrier level: | $96.6743, 67% of initial level
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| Pricing date: | Sept. 16, 2022
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| Settlement date: | Sept. 21, 2022
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
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| Cusip: | 40428HTX0
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