Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.6 million contingent income barrier autocalls with memory on Blackstone
New York, April 8 – HSBC USA Inc. priced $3.60 million of autocallable contingent income barrier notes with memory coupon due March 26, 2026 linked to the common stock of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.9%, paid quarterly, if the underlying stock closes at or above its 75% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any quarterly observation date starting on Sept. 23, 2024.
The payout at maturity will be par if the stock ends at or above its 75% barrier value.
Otherwise, investors will receive a number of shares per note equal to $1,000 divided by the stock’s initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Blackstone Inc.
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| Amount: | $3,601,000
|
| Maturity: | March 26, 2026
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| Coupon: | 13.9%, paid quarterly, if the underlying stock closes at or above its 75% barrier level on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above the barrier level, par; otherwise, receive a number of shares per note equal to $1,000 divided by the stock’s initial level
|
| Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any quarterly observation date starting on Sept. 23, 2024
|
| Initial level: | $127.86
|
| Coupon barrier: | $95.895, 75% of initial level
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| Barrier level: | $95.895, 75% of initial level
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.75%
|
| Cusip: | 40428HA93
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