Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $680,000 16% autocallable contingent income barrier notes linked to AMD
New York, March 28 – HSBC USA Inc. priced $680,000 of autocallable contingent income barrier notes due Aug. 6, 2024 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16%, paid monthly, if the underlying stock closes at or above its 65% barrier level on the related monthly observation date.
The payout at maturity will be par if the stock ends at or above its 65% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting Jan. 3, 2024 at par if the level of the stock is greater than or equal to its initial level and on any subsequent monthly observation date.
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: | Advanced Micro Devices, Inc.
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| Amount: | $680,000
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| Maturity: | Aug. 6, 2024
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| Coupon: | 16%, paid monthly, if the underlying stock closes at or above its 65% barrier level on the related monthly observation date
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| 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
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| Call: | Automatically starting Jan. 3, 2024 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: | $113.91
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| Coupon barrier: | $74.0415, 65% of initial level
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| Barrier level: | $74.0415, 65% of initial level
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
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| Cusip: | 40428HXC1
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