By Wendy Van Sickle
Columbus, Ohio, June 8 – HSBC USA Inc. priced $504,000 of autocallable contingent income barrier notes due Sept. 9, 2019 to Nvidia Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 9.5% if the stock closes at or above the barrier level, 60% of the initial level, on each day that month.
The notes will be called at par plus the coupon if the stock closes at or above the initial price on any monthly observation date beginning Dec. 7, 2018.
If the notes are not called and the stock finishes at or above the 60% trigger level, the payout at maturity will be par. Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
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| Underlying stock: | Nvidia Corp.
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| Amount: | $504,000
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| Maturity: | Sept. 9, 2019
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| Coupon: | 9.5% payable monthly if stock closes at or above barrier level on each day that month
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above barrier level, par; otherwise, full exposure to losses
|
| Call: | At par plus the coupon if the stock closes at or above the initial price on any monthly observation date beginning Dec. 7, 2018
|
| Initial level: | $264.85
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| Trigger/barrier levels: | $158.91, 60% of initial price
|
| Pricing date: | June 4
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| Settlement date: | June 7
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40435FG76
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