By Angela McDaniels
Tacoma, Wash., May 23 – HSBC USA Inc. priced $1.05 million of 10% autocallable yield notes due May 28, 2020 linked to the least performing of the common stocks of Anthem, Inc., UnitedHealth Group Inc. and Cigna Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its trigger price, 60% of its initial share price, in which case investors will lose 1% for each 1% that the least-performing stock declines from its initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Anthem, Inc. (NYSE: ANTM), UnitedHealth Group Inc. (NYSE: UNH) and Cigna Corp. (NYSE: CI)
|
| Amount: | $1.05 million
|
| Maturity: | May 28, 2020
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par
|
| Call: | Automatically at par if each stock closes at or above its initial share price on any quarterly call observation date
|
| Payout at maturity: | Par unless any stock finishes below trigger price, in which case 1% loss for each 1% that least-performing stock declines from initial share price
|
| Initial share prices: | $277.14 for Anthem, $249.34 for UnitedHealth and $152.83for Cigna
|
| Trigger prices: | $166.284 for Anthem, $149.604 for UnitedHealth and $91.698 for Cigna, or 60% of initial share prices
|
| Pricing date: | May 22
|
| Settlement date: | May 28
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40435UNW0
|
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