By Marisa Wong
Morgantown, W.Va., Feb. 6 – HSBC USA Inc. priced $1 million of 10.25% autocallable yield notes due Feb. 1, 2018 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if the fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the trigger price, 70% of the initial price, in which case investors will receive a number of shares of the fund equal to $1,000 divided by the initial price.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying ETF: | Market Vectors Gold Miners ETF
|
| Amount: | $1 million
|
| Maturity: | Feb. 1, 2018
|
| Coupon: | 10.25%, payable quarterly
|
| Price: | Par
|
| Call: | At par if fund closes above initial level on a quarterly observation date
|
| Payout at maturity: | Par unless fund finishes below trigger price, in which case 43.06632 shares of the ETF
|
| Initial share price: | $23.22
|
| Trigger price: | $16.254, 70% of initial price
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 1
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40435C484
|
|
|
© 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.
