Published on 5/18/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.28 million callable notes with contingent return on Amazon
By William Gullotti
Buffalo, N.Y., May 18 – HSBC USA Inc. priced $2.28 million of callable notes with contingent return due May 16, 2024 linked to the performance Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.45% if the stock closes at or above the 60.75% coupon trigger level on the related observation date.
HSBC may call the notes on any quarterly coupon payment date after six months.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 60.75% barrier level, in which case investors will receive a number of shares equal to $5,000 divided by the stock’s initial share price.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Callable notes with contingent return
|
Underlying stock: | Amazon.com, Inc.
|
Amount: | $2.28 million
|
Maturity: | May 16, 2024
|
Coupon: | 12.45%, payable quarterly if stock closes at or above coupon trigger on related observation date
|
Price: | Par of $5,000
|
Payout at maturity: | Par plus contingent coupon unless the stock finishes below barrier value, in which case investors will receive number of shares equal to $5,000 divided by the stock’s initial share price
|
Call option: | At par on any quarterly coupon payment date after six months
|
Initial level: | $2,261.10
|
Coupon trigger: | $1,373.61825; 60.75% of initial value
|
Barrier value: | $1,373.61825; 60.75% of initial value
|
Pricing date: | May 13
|
Settlement date: | May 18
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 1.75%
|
Cusip: | 40428HTE2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.