By Kiku Steinfeld
Chicago, Sept. 26 – HSBC USA Inc. priced $193,000 of autocallable contingent income barrier notes due Aug. 2, 2023 linked to the stock performance of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 13.6% if the stock closes at or above the coupon trigger level, 60% of the initial share price, on the relevant observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any monthly observation date after three months.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 60% barrier price, in which case investors will be exposed to all losses of the stock.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $193,000
|
| Maturity: | Aug. 2, 2023
|
| Coupon: | 13.6%, payable monthly if the stock closes at or above coupon trigger level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock finishes below barrier price, in which case exposure to all losses of the stock
|
| Call: | At par plus coupon if the stock closes at or above initial price on any monthly observation date after three months
|
| Initial price: | $19.54
|
| Coupon trigger/barrier price: | $11.724; 60% of initial price
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 2
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.375%
|
| Cusip: | 40439JXY6
|
|
|
© 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.
