By Susanna Moon
Chicago, Dec. 15 – HSBC USA Inc. priced $1.05 million of 12.5% autocallable yield notes due Dec. 22, 2017 linked to the American Depositary Shares of Cemex, SAB de CV, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning March 22, 2017.
The payout at maturity will be par unless the shares finish below the 75% trigger level, in which case investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stock: | Cemex, SAB de CV (NYSE: CX)
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| Amount: | $1.05 million
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| Maturity: | Dec. 22, 2017
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| Coupon: | 12.5%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless shares fall by more than 30%, in which case 111.98208 Cemex shares
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| Call: | At par if each index closes at or above initial level on any quarterly observation date beginning March 22, 2017
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| Initial level: | $8.93
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| Trigger level: | 70% of initial level
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 22
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40433UE44
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