By Marisa Wong
Los Angeles, Dec. 17 – HSBC USA Inc. priced $8.18 million of 13.7% airbag autocallable yield notes due Nov. 30, 2021 linked to the common stock of Royal Caribbean Cruises Ltd., 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 price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the 60% conversion price, in which case investors will receive a number of shares of Royal Caribbean stock equal to $1,000 divided by the conversion price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag autocallable yield notes
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| Underlying stock: | Royal Caribbean Cruises Ltd. (Symbol: RCL)
|
| Amount: | $8,183,000
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| Maturity: | Nov. 30, 2021
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| Coupon: | 13.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, unless final share price is less than conversion price, in which case 22.9632 shares of Royal Caribbean stock per note
|
| Call: | Automatically at par if shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $72.58
|
| Conversion price: | $43.55, 60% of initial price
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 40438Q514
|
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