By Jennifer Chiou
New York, Aug. 12 – HSBC USA Inc. priced $1,226,000 of 7% autocallable yield notes due Aug. 13, 2015 linked to Schlumberger Ltd. 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 stock closes at or above its initial level on any quarterly call date beginning on Feb. 13, 2015.
A trigger event will occur if the shares close below the 80% trigger level on any day during the life of the notes.
The payout at maturity will be par unless a trigger event has occurred and the stock finishes below its initial level, in which case investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
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| Underlying stock: | Schlumberger Ltd. (Symbol: SLB)
|
| Amount: | $1,226,000
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| Maturity: | Aug. 13, 2015
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| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless shares close below the 80% trigger level on any day during the life of the notes and the stock finishes below its initial level, in which case investors exposed to any losses
|
| Call: | At par if Schlumberger shares close at or above initial share price on any quarterly observation date beginning on Feb. 13, 2015
|
| Initial price: | $108.38
|
| Conversion price: | $86.70, 80% of initial price
|
| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40433BKY3
|
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