By Sarah Lizee
Olympia, Wash., June 25 – HSBC USA Inc. priced $950,000 of autocallable yield notes due Dec. 22, 2020 linked to the worst performing of the common stocks of Delta Air Lines, Inc. and United Continental Holdings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon at an annual rate of 8.05%.
The notes will be called at par plus the coupon if each stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its barrier level, 50% of the initial price, in which case investors will be exposed to any decline of the least performing stock.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
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| Underlying stocks: | Delta Air Lines, Inc. and United Continental Holdings Inc.
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| Amount: | $950,000
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| Maturity: | Dec. 22, 2020
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| Coupon: | 8.05% per year, payable quarterly
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| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier level, in which case investors will be exposed to any decline of least performing stock
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly observation date
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| Initial prices: | $30.72 for Delta, $39.25 for United
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| Barrier levels: | 50% of initial prices
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| Pricing date: | June 17
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| Settlement date: | June 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40438CLY5
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