By William Gullotti
Buffalo, N.Y., Sept. 14 – HSBC USA Inc. priced $1.75 million of 8.15% airbag autocallable yield notes due Sept. 12, 2022 linked to the common stock of Newmont Corp., 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 price 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 Newmont 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.
|
Issue: | Airbag autocallable yield notes
|
Underlying stock: | Newmont Corp.
|
Amount: | $1,749,000
|
Maturity: | Sept. 12, 2022
|
Coupon: | 8.15%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par, unless final share price is less than conversion price, in which case 19.0441 shares of Newmont stock per note
|
Call: | Automatically at par if shares close at or above initial price on any quarterly observation date
|
Initial share price: | $59.67
|
Conversion price: | $52.51, 88% of initial price
|
Pricing date: | Sept. 3
|
Settlement date: | Sept. 9
|
Underwriter: | HSBC Securities (USA) Inc.
|
Agent: | UBS Investment Bank
|
Fees: | 1.5%
|
Cusip: | 40439K268
|
|
© 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.