By Susanna Moon
Chicago, July 20 – HSBC USA Inc. priced $993,000 of 6.7% airbag autocallable yield notes due July 16, 2018 linked to Williams Cos, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the shares close at or above their initial level on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Williams shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Airbag autocallable yield notes
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| Underlying stock: | Williams Cos, Inc. (Symbol: WMB)
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| Amount: | $993,000
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| Maturity: | July 16, 2018
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| Coupon: | 6.7%, payable monthly
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| Price: | Par
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| Payout at maturity: | If final share price is less than conversion price, 38.6847 Williams shares; otherwise, par
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| Call: | At par if shares close at or above initial level on any quarterly observation date
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| Initial share price: | $30.41
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| Conversion price: | $25.85, 85% of initial price
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agent: | UBS Investment Bank
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| Fees: | 1.5%
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| Cusip: | 40435H525
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