By Marisa Wong
Morgantown, W.Va., July 3 – HSBC USA Inc. priced $4.94 million of 8% airbag autocallable yield notes due June 28, 2019 linked to Southwest Airlines Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price 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 shares equal to $1,000 divided by the conversion price. The conversion price is 90% of the initial share price.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
Issuer: | HSBC USA Inc.
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Issue: | Airbag autocallable yield notes
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Underlying stock: | Southwest Airlines Co. (Symbol: LUV)
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Amount: | $4 million
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Maturity: | June 28, 2019
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Coupon: | 8%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless final share price is less than conversion price, in which case 21.4046 Southwest shares
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Call: | At par if shares close at or above initial share price on any quarterly observation date
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Initial share price: | $51.91
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Conversion price: | $46.72, 90% of initial share price
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Pricing date: | June 22
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Settlement date: | June 27
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Underwriters: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40435X884
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