Published on 3/1/2023 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.87 million 16.5% yield notes linked to Datadog, American Tower
By William Gullotti
Buffalo, N.Y., March 1 – HSBC USA Inc. priced $2.87 million of 16.5% yield notes due Feb. 27, 2025 linked to the stock performance of Datadog, Inc. and American Tower Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless the shares of any of the stocks finish below their trigger level, 60% of their initial levels, in which case investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Yield notes
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| Underlying stocks: | Datadog, Inc., American Tower Corp.
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| Amount: | $2,866,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 16.5%, payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its 60% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price
|
| Initial share prices: | $79.96 for Datadog, $199.28 for American Tower
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| Trigger share prices: | $47.976 for Datadog, $119.568 for American Tower; 60% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.25%
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| Cusip: | 40428HVG4
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