By William Gullotti
Buffalo, N.Y., May 31 – HSBC USA Inc. priced $2.32 million of 8.9% autocallable yield notes due June 10, 2024 linked to the stock performance Starbucks 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 unless the stock finishes below its 81% trigger 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: | Starbucks Corp.
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| Amount: | $2,316,000
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| Maturity: | June 10, 2024
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| Coupon: | 8.9%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its 81% trigger price, 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: | $104.72
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| Trigger price: | $84.8232; 81% of initial level
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| Pricing date: | May 4
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| Settlement date: | May 9
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
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| Cusip: | 40428HWK4
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