By William Gullotti
Buffalo, N.Y., Oct. 18 – HSBC USA Inc. priced $1.19 million of 11.3% autocallable yield notes due Nov. 13, 2023 linked to the stock performance Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any monthly call date after six months.
The payout at maturity will be par unless the stock closes below its 73% trigger price on any trading day during the life of the notes and finishes below its initial share price, in which case investors will receive a number of shares 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
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| Underlying stock: | Apple Inc.
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| Amount: | $1,192,000
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| Maturity: | Nov. 13, 2023
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| Coupon: | 11.3%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its 73% trigger price on any trading day during the life of the notes and finishes below its initial level, in which case a number of shares equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | Automatically at par if stock closes at or above initial level on any monthly call date after six months
|
| Initial share price: | $138.98
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| Trigger price: | $101.4554; 73% of initial level
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 14
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.5%
|
| Cusip: | 40428HUA8
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