By William Gullotti
Buffalo, N.Y., Nov. 20 – HSBC USA Inc. priced $4.26 million of 9.3% autocallable yield notes due Nov. 20, 2025 linked to the stock performance of Microsoft 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 stock closes at or above its initial level on any monthly valuation date after one year.
The payout at maturity will be par unless the stock finishes below its 73% trigger level, in which case investors will be fully exposed to the stock’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | Microsoft Corp.
|
| Amount: | $4,255,000
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| Maturity: | Nov. 20, 2025
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| Coupon: | 9.3%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its 73% trigger level, in which case lose 1% for each 1% decline from initial level
|
| Call: | Automatically at par if stock closes at or above initial level on any monthly valuation date after one year
|
| Initial level: | $369.67
|
| Trigger level: | $269.8591; 73% of initial level
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 20
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40447ARE6
|
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