By Wendy Van Sickle
Columbus, Ohio, Dec. 11 – HSBC USA Inc. priced $4.08 million of autocallable contingent income barrier notes due Nov. 30, 2023 linked to the least performing of the common stocks of Akamai Technologies, Inc. and Citrix Systems, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.55% if each stock closes at or above its coupon trigger price, 65% of the initial share price, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above 100% of its initial share price on any quarterly call date after six months.
If the notes are not called, the payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to the decline of the least performing stock.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
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| Underlying stocks: | Akamai Technologies, Inc. and Citrix Systems, Inc.
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| Amount: | $4,082,000
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| Maturity: | Nov. 30, 2023
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| Coupon: | Each quarter, 9.55% per year if stocks close at or above coupon trigger price on observation date
|
| Price: | Par
|
| Payout at maturity: | If all stocks finish at or above trigger price, par; otherwise, full exposure to decline of least performing stock
|
| Call: | Automatically at par plus the contingent coupon if each stock closes at or above 100% of its initial share price on any coupon observation date on any quarterly call date after six months
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| Initial share prices: | $103.74 for Akamai and $121.41 for Citrix
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| Coupon trigger: | 65% of initial prices
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| Trigger prices: | 65% of initial prices
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 30
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
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| Cusip: | 40438CD99
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