By William Gullotti
Buffalo, N.Y., July 14 – HSBC USA Inc. priced $1.05 million of 10.25% autocallable yield notes due Aug. 14, 2023 linked to the stock performance of United Parcel Service, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial share price on any monthly call date after six months.
The payout at maturity will be par unless the stock finishes below its 77% trigger price, in which case investors will be fully exposed to the stock’s decline from its initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
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| Underlying stock: | United Parcel Service, Inc.
|
| Amount: | $1,048,000
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| Maturity: | Aug. 14, 2023
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| Coupon: | 10.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its 77% trigger price, in which case 1% loss for each 1% decline of stock from its initial share price
|
| Call: | Automatically at par if stock closes at or above initial share price on any monthly call date after six months
|
| Initial share price: | $184.64
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| Trigger price: | $142.1728; 77% of initial share price
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| Pricing date: | July 11
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| Settlement date: | July 14
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
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| Cusip: | 40441XEA4
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