Published on 6/29/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.44 million 8.8% airbag autocallable yield notes on Dick’s Sporting Goods
By Wendy Van Sickle
Columbus, Ohio, June 29 – HSBC USA Inc. priced $1.44 million of 8.8% airbag autocallable yield notes due July 2, 2018 linked to Dick’s Sporting Goods, Inc. 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 the 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 Dick’s Sporting Goods shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Airbag autocallable yield notes
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Underlying stock: | Dick’s Sporting Goods, Inc.
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Amount: | $1,443,000
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Maturity: | July 2, 2018
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Coupon: | 8.8%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of Dick’s Sporting Goods, Inc. shares equal to $1,000 divided by conversion price; otherwise, par
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Call: | Automatically at par if shares close at or above initial level on any quarterly observation date
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Initial share price: | $39.06
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Conversion price: | $33.20, 85% of initial price
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Pricing date: | June 23
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Settlement date: | June 28
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | UBS Investment Bank
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Fees: | 1.5%
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Cusip: | 40435D136
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