By Angela McDaniels
Tacoma, Wash., April 22 – HSBC USA Inc. priced $2.75 million of 7.7% airbag autocallable yield optimization notes due April 22, 2016 linked to the common stock of Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if Celgene shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Celgene shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Celgene Corp. (Symbol: CELG)
|
| Amount: | $2.75 million
|
| Maturity: | April 22, 2016
|
| Coupon: | 7.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case 10.3681 Celgene shares
|
| Call: | Automatically at par if Celgene shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $113.47
|
| Conversion price: | $96.45, 85% of initial index level
|
| Pricing date: | April 20
|
| Settlement date: | April 23
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 40434G478
|
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