HSBC to price contingent income barrier autocalls on United Continental

By Sarah Lizee

Olympia, Wash., Aug. 31 – HSBC USA Inc. plans to price autocallable contingent income barrier notes due March 4, 2022 linked to the common stock of United Continental Holdings Inc., according to an FWP filing with the Securities and Exchange Commission.

Each month, the notes will pay a 20% contingent coupon if the stock closes at or above the coupon trigger level, 60% of the initial share price, on the observation date for that month.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any coupon observation date beginning Dec. 1.

The payout at maturity will be par unless the stock finishes below its 50% barrier price, in which case investors will be fully exposed to the decline in the stock.

HSBC Securities (USA) Inc. is the agent

The notes will price on Sept. 1.

The Cusip number is 40438CUD1.

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