Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.82 million autocallable barrier notes with step-up premium on index, ETF
By William Gullotti
Buffalo, N.Y., Aug. 24 – HSBC USA Inc. priced $1.82 million of 0% autocallable barrier notes with step-up premium due Aug. 24, 2026 linked to the performance of the Financial Select Sector SPDR Fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual 16.5% call premium if each underlier closes at or above its initial level on any annual valuation date.
If the notes are not called, the payout will be par unless any underlier finishes below its 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable barrier notes with step-up premium
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Underlying assets: | Financial Select Sector SPDR Fund, Russell 2000 index
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Amount: | $1,819,000
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Maturity: | Aug. 24, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below barrier level, in which case investors will lose 1% for each 1% decline of worst performer from its initial level
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Call: | At par plus an annual 16.5% call premium if each underlier closes at or above its initial level on any annual valuation date
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Initial asset levels: | $34.96 for ETF, 1,957.346 for Russell
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Barrier levels: | $24.472 for ETF, 1,370.1422 for Russell; 70% of initial levels
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Pricing date: | Aug. 19
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Settlement date: | Aug. 24
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40441XGU8
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