By Wendy Van Sickle
Columbus, Ohio, June 23 – HSBC USA Inc. priced $950,000 of autocallable yield notes due Dec. 22, 2020 linked to 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 interest rate will be 32.2% per year, and interest will be payable quarterly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either stock finishes below its trigger level, 50% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial level.
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: | 32.2%, payable quarterly
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| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below trigger level, in which case full exposure to loss of worse performing stock
|
| Call: | At par if each stock closes at or above the initial level on any quarterly observation date
|
| Initial levels: | $30.72 for Delta, $39.25 for United
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| Trigger levels: | 50% of initial levels
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| Pricing date: | June 17
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| Settlement date: | June 22
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
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| Cusip: | 40438CLY5
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