By Kiku Steinfeld
Chicago, Aug. 6 – HSBC USA Inc. priced $1.2 million of autocallable contingent income barrier notes due July 22, 2024 linked to the stock of Workday, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.45% if the stock closes at or above the barrier level, 70% of the initial level, on the determination date for that quarter.
The notes will be called at par plus the coupon if the stock closes at or above the initial price on any quarterly observation date after six months.
If the notes are not called and the stock finishes at or above the 70% trigger level, the payout at maturity will be par. Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stock: | Workday, Inc.
|
| Amount: | $1.2 million
|
| Maturity: | July 22, 2024
|
| Coupon: | 8.45%, payable quarterly if stock closes at or above trigger level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above 70% barrier level, par; otherwise, full exposure to losses
|
| Call: | Par plus coupon if stock closes at or above the initial price on any quarterly observation date after six months
|
| Initial level: | $227.53
|
| Trigger/barrier level: | $159.271, 70% of initial price
|
| Pricing date: | July 16
|
| Settlement date: | July 23
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40439JFT7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
