By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – HSBC USA Inc. priced $3.54 million of 8.7% airbag autocallable yield notes due Feb. 27, 2018 linked to Chicago Bridge & Iron Co. NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Chicago Bridge & Iron shares close at or above their initial level 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 Chicago Bridge & Iron shares equal to $1,000 divided by the conversion price. The conversion price will be 81% 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 notes
|
Underlying stock: | Chicago Bridge & Iron Co. NV
|
Amount: | $3,542,000
|
Maturity: | Feb. 27, 2018
|
Coupon: | 8.7%, payable monthly
|
Price: | Par
|
Payout at maturity: | If final share price is less than conversion price, number of Chicago Bridge & Iron shares equal to $1,000 divided by conversion price; otherwise, par
|
Call: | Automatically at par if shares close at or above initial level on any quarterly observation date
|
Initial share price: | $33.95
|
Conversion price: | $27.50, 81% of initial price
|
Pricing date: | Feb. 17
|
Settlement date: | Feb. 23
|
Underwriter: | HSBC Securities (USA) Inc.
|
Agent: | UBS Investment Bank
|
Fees: | 1.5%
|
Cusip: | 40435H103
|
|
|
|
© 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.