By William Gullotti
Buffalo, N.Y., Dec. 28 – HSBC USA Inc. priced $814,000 of 9.44% autocallable yield notes due June 5, 2023 linked to the stock performance Exxon Mobil Corp., 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 plus the final fixed coupon unless the stock finishes below its 77% trigger price, in which case investors will lose 1% for every 1% decline from initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying stock: | Exxon Mobil Corp.
|
| Amount: | $814,000
|
| Maturity: | June 5, 2023
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| Coupon: | 9.44%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger price, par plus final fixed coupon; otherwise, full exposure to share price decline from initial share price
|
| Call: | Automatically at par if stock closes at or above initial level on any monthly call date after six months
|
| Initial share price: | $87.20
|
| Trigger price: | $67.144; 77% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40439JY58
|
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