By Marisa Wong
Madison, Wis., April 28 – HSBC USA Inc. priced $1.14 million of income plus notes due April 29, 2022 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Apple Inc., Cisco Systems, Inc., General Motors Co., Pfizer Inc. and Philip Morris International Inc.
Interest is payable annually. The interest rate will be 1% plus (a) 5% if each basket stock closes at or above its initial share price on the valuation date for that year or (b) 0% otherwise.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Income plus notes
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Underlying stocks: | Apple Inc. (Symbol: AAPL), Cisco Systems, Inc. (Symbol: CSCO), General Motors Co. (Symbol: GM), Pfizer Inc. (Symbol: PFE) and Philip Morris International Inc. (Symbol: PM)
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Amount: | $1,141,000
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Maturity: | April 29, 2022
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Coupon: | 6% if each basket stock closes at or above its initial share price on the valuation date for that year or 1% otherwise; payable annually
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Price: | Par
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Payout at maturity: | Par plus final coupon
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.025%
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Cusip: | 40433BK64
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