New Issue: HSBC sells $1.28 million 10.5% autocallable yield notes tied to Apple, Coke, AMD

By William Gullotti

Buffalo, N.Y., May 23 – HSBC USA Inc. priced $1.28 million of 10.5% autocallable yield notes due May 23, 2024 linked to the stock performance of Apple Inc., Coca-Cola Co. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if each stock closes at or above its initial level on any quarterly call date.

The payout at maturity will be par unless any stock finishes below its 50% trigger price, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the issuer’s option, the cash equivalent.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Autocallable yield notes
Underlying stocks:	Apple Inc., Coca-Cola Co., Advanced Micro Devices, Inc.
Amount:	$1,276,000
Maturity:	May 23, 2024
Coupon:	10.5%, payable monthly
Price:	Par
Payout at maturity:	Par unless any stock finishes below its 50% trigger price, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
Call:	Automatically at par if stocks close at or above their initial levels on any quarterly call date
Initial share prices:	$140.82 for Apple, $61.20 for Coke, $96.28 for AMD
Trigger prices:	$70.41 for Apple, $30.60 for Coke, $48.14 for AMD; 50% of initial levels
Pricing date:	May 18
Settlement date:	May 23
Agent:	HSBC Securities (USA) Inc.
Fees:	4%
Cusip:	40428HTD4

© 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.