Published on 6/21/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.25 million 10% yield autocallables tied to three stocks
By Susanna Moon
Chicago, June 21 – HSBC USA Inc. priced $2.25 million of 10% autocallable yield notes due June 11, 2018 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 is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any review date.
The payout at maturity will be par unless any stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying stocks: | Amgen, Inc. (Symbol: AMGN), Biogen Inc. (Symbol: BIIB) and Thermo Fisher Scientific Inc. (Symbol: TMO)
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Amount: | $2.25 million
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Maturity: | June 11, 2018
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any stock falls below 75% trigger, in which case full exposure to any losses of worst performing stock
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Call: | At par if each index closes at or above initial level on any quarterly review date beginning Sept. 4, 2017
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Initial levels: | $159.15 for Amgen, $256.65 for Biogen, $176.27 for Thermo Fisher
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Barrier levels: | $119.3625 for Amgen, $192.4875 for Biogen, $132.2055 for Thermo Fisher; 75% of initial levels
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Pricing date: | June 2
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Settlement date: | June 9
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40435D367
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