By Susanna Moon
Chicago, Aug. 30 - HSBC USA Inc. priced $13.23 million of 0% autocallable optimization securities with contingent protection due Sept. 2, 2011 linked to the common stock of Hewlett-Packard Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Hewlett-Packard stock closes at or above the initial share price on any of 12 monthly observation dates, the notes will be called automatically and investors will receive par of $10 plus an annualized call premium of 18%.
The payout at maturity will be par if the stock finishes at or above 75% of the initial share price. Otherwise, investors will be fully exposed to the share price decline.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
Issuer: | HSBC USA Inc.
|
Issue: | Autocallable optimization securities with contingent protection
|
Underlying stock: | Hewlett-Packard Co. (Nasdaq: HPQ)
|
Amount: | $13,228,500
|
Maturity: | Sept. 2, 2011
|
Coupon: | 0%
|
Price: | Par of $10.00
|
Payout at maturity: | If stock finishes at or above trigger price, par; otherwise, par plus stock return
|
Call: | Automatically at par plus 18% per year if Hewlett-Packard stock closes at or above initial share price on any of 12 monthly observation dates
|
Initial share price: | $38.22
|
Trigger price: | $28.67, or 75% of initial share price
|
Pricing date: | Aug. 26
|
Settlement date: | Aug. 31
|
Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
Fees: | 1.25%
|
Cusip: | 40432R666
|
© 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.