HSBC to price contingent income autocallables linked to Mobileye

By Toni Weeks

San Luis Obispo, Calif., June 5 – HSBC USA Inc. plans to price contingent income autocallable securities due June 16, 2016 linked to the ordinary shares of Mobileye NV, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 11.35% if Mobileye stock closes at or above the 70% downside threshold level on the determination date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if the stock close at or above its initial level on any of the first three quarterly determination dates.

If the notes are not called and Mobileye stock finishes at or above the 70% downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, investors will receive a number of Mobileye shares equal to $10 divided by the initial stock price or, at the issuer’s option, the cash value of those shares.

HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is a dealer.

The notes are expected to price June 12 and settle June 17.

The Cusip number is 40434E200.

© 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.