By Angela McDaniels
Tacoma, Wash., Sept. 15 – HSBC USA Inc. priced $710,000 of 8% autocallable yield notes due Sept. 16, 2016 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if the stock closes at or above the initial share price on March 11, 2016, June 13, 2016 or Sept. 13, 2016.
A trigger event occurs if the stock closes below the trigger price, 68% of the initial price, on any day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the stock finishes below its initial price, in which case investors will be fully exposed to the decline in Apple’s share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $710,000
|
| Maturity: | Sept. 16, 2016
|
| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock closes below trigger price on any day during life of notes and stock finishes below initial price, in which case full exposure to decline in Apple’s share price
|
| Call: | Automatically at par if stock closes at or above initial share price on March 11, 2016, June 13, 2016 or Sept. 13, 2016
|
| Initial share price: | $114.21
|
| Trigger price: | $77.66, 68% of initial share price
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 16
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40433UAD8
|
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