Today's Hymn was written by Charles Wesley.
As is so true with most hymns, there is often a strong and powerful gospel message.
This hymn is no exception.
In this Hymn, the sacrificial substitute death of The Lord God Jesus Christ is explained:
He died that you and I and anyone who accepts His gift of His death as a substitute -- in place of our death -- so that we could be forgiven of our sins.
The lyrics are provided.
HERE'S THE LINK to And Can it be that I should gain.