Published on 12/23/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1 million 9% yield notes on Amgen, Biogen, Thermo Fisher shares
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – HSBC USA Inc. priced $1 million of 9% yield notes due Dec. 27, 2017 linked to the common stocks of Amgen Inc., Biogen Inc. and Thermo Fisher Scientific Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless the shares of any of the stocks finish below their trigger level, 65% of their initial levels, in which case investors will be fully exposed to the decline of the shares of the worst-performing stock from their initial level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Yield notes
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Underlying stocks: | Amgen Inc., Biogen Inc. and Thermo Fisher Scientific Inc.
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Amount: | $1 million
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Maturity: | Dec. 27, 2017
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Coupon: | 9%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below its 65% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
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Initial share prices: | $146.17 for Amgen, $283.11 for Biogen and $140.77 for Thermo Fisher
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Trigger share prices: | $95.0105 for Amgen, $184.0215 for Biogen and $91.5005 for Thermo Fisher, 65% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40433UF76
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