By Wendy Van Sickle
Columbus, Ohio, June 15 – HSBC USA Inc. priced $2 million of autocallable yield notes due June 18, 2019 linked to the worst performing of the common stocks of Schlumberger NV and Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 8.6%.
The notes will be called at par if each stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its trigger level, 75% of the initial price, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by that stock’s initial price or, at the issuer’s option, the cash value of those shares.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Schlumberger NV and Halliburton Co.
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| Amount: | $2 million
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| Maturity: | June 18, 2019
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| Coupon: | 8.6% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below trigger level, in which case a number of shares of the worst performing stock equal to $1,000 divided by that stock’s initial price or, at issuer’s option, cash value of those shares
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| Call: | Automatically if each stock closes at or above initial level on any quarterly observation date
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| Initial prices: | $67.97 for Schlumberger, $47.67 for Halliburton
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| Trigger levels: | $50.9775 for Schlumberger, $35.7525 for Halliburton; 75% of initial levels
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| Pricing date: | June 13
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| Settlement date: | June 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40435X603
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