By Kiku Steinfeld
Chicago, March 3 – HSBC USA Inc. priced $368,000 of autocallable contingent income barrier notes with memory coupon due March 14, 2023 linked to the performance of Chewy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.68% if the stock closes at or above the coupon trigger level, 70% of the initial share price, on the relevant observation date. Payments will include any previously unpaid coupons for prior quarters.
The notes will be called at par if the stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the stock finishes below its 60% barrier price, in which case investors will be fully exposed to the decline in the stock from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes with memory coupon
|
| Underlying stock: | Chewy, Inc.
|
| Amount: | $368,000
|
| Maturity: | March 14, 2023
|
| Coupon: | 9.68%, payable quarterly plus any previously unpaid coupons if the stock closes at or above coupon trigger level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless stock closes below barrier price, in which case full exposure to losses
|
| Call: | At par if the stock closes at or above initial price on any quarterly observation date
|
| Initial price: | $76.60
|
| Coupon trigger price: | $53.62; 70% of initial price
|
| Barrier price: | $45.96; 60% of initial price
|
| Pricing date: | Sept. 9
|
| Settlement date: | Sept. 14
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.875%
|
| Cusip: | 40439JLY9
|
© 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.
