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HSBC plans 8.75%-9.75% one-year airbag autocallables tied to Noble
By Susanna Moon
Chicago, Oct. 10 – HSBC USA Inc. plans to price 8.75% to 9.75% airbag autocallable yield notes due Oct. 18, 2019 linked to Noble Energy, Inc. 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 85% of the initial share price.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
The notes will price on Oct. 12.
The Cusip number is 40436A800.
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