By Taylor Fox
New York, Nov. 5 – HSBC USA Inc. priced $1.67 million of 7.6% airbag autocallable yield notes due Oct. 18, 2021 linked to the class A common stock of Comcast Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above their initial level on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the 87% conversion price, in which case the payout will be a number of shares of Comcast stock equal to $1,000 divided by the conversion price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Airbag autocallable yield notes
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Underlying stock: | Comcast Corp.
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Amount: | $1,666,000
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Maturity: | Oct. 18, 2021
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Coupon: | 7.6%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 25.6282 shares of Comcast stock per note
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Call: | Automatically at par if shares close at or above initial level on any quarterly observation date
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Initial share price: | $44.85
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Conversion price: | $39.02, 87% of initial price
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Pricing date: | Oct. 9
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Settlement date: | Oct. 15
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 40438G813
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