Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.37 million 12.2% contingent income barrier autocalls with memory on Marvell
New York, April 23 – HSBC USA Inc. priced $5.37 million of autocallable contingent income barrier notes with memory coupon due April 19, 2027 linked to the common stock of Marvell Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.2%, paid quarterly, if the underlying stock closes at or above its 50% barrier level on the related quarterly observation date, plus any previously unpaid coupons.
The payout at maturity will be par if the stock ends at or above its 50% barrier value. Otherwise investors will lose 1% for every 1% that the stock declines.
The securities will be called automatically starting on October 16, 2024 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable contingent income barrier notes with memory coupon
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| Underlying stock: | Marvell Technology, Inc.
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| Amount: | $5,372,000
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| Maturity: | April 19, 2027
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| Coupon: | 12.2%, paid quarterly, if the underlying stock closes at or above its 50% barrier level on the related quarterly observation date, plus any previously unpaid coupons
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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 on October 16, 2024 if the level of the stock is greater than or equal to its initial level and on any subsequent quarterly observation date
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| Initial level: | $67.88
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| Coupon barrier: | $33.94, 50% of initial level
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| Barrier level: | $33.94, 50% of initial level
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| Pricing date: | April 15
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| Settlement date: | April 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40447AX41
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