By Emma Trincal
New York, May 10 – HSBC USA Inc. priced $500,000 of autocallable contingent income barrier notes due May 9, 2023 linked to the least performing of the common stocks of Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annualized rate of 19.38% if each stock closes at or above its coupon trigger level, 50% of the initial level, on the observation date for that period.
The notes will be called at par if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and each stock finishes at or above its 50% barrier level, the payout at maturity will be par and any previously unpaid coupons. Otherwise, investors will lose 1% for each 1% decline of the least-performing stock from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stocks: | Apple Inc. and Tesla, Inc.
|
| Amount: | $500,000
|
| Maturity: | May 9, 2023
|
| Coupon: | 19.38% annual rate, payable quarterly if each stock closes at or above coupon trigger level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above barrier level, par; otherwise, 1% loss for each 1% decline of the least-performing stock from initial level
|
| Call: | At par if each stock closes at or above its initial price on any quarterly call observation date after six months
|
| Initial levels: | $166.02 for Apple, $952.62 for Tesla
|
| Coupon trigger levels: | $83.01 for Apple and $476.31 for Tesla; 50% of initial prices
|
| Barrier levels: | $83.01 for Apple and $476.31 for Tesla; 50% of initial prices
|
| Pricing date: | May 4
|
| Settlement date: | May 9
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.25%
|
| Cusip: | 40439J4E2
|
|
|
© 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.
