By Taylor Fox
New York, Nov. 5 – HSBC USA Inc. priced $2.59 million of 7.5% airbag autocallable yield notes due Oct. 18, 2021 linked to the common stock of Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 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 88% conversion price, in which case investors will receive a number of shares of the applicable reference stock equal to the share delivery amount, 3.9744 shares of Home Depot stock.
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: | Home Depot, Inc
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Amount: | $2,589,000
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Maturity: | Oct. 18, 2021
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Coupon: | 7.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par, unless the final share price is less than the 88% conversion price, in which case investors will receive 3.9744 shares of Home Depot 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: | $285.92
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Conversion price: | $251.61, 88% 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: | 40438G797
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