HSBC plans 10.55% contingent income barrier autocalls on three stocks

By Susanna Moon

Chicago, June 13 – HSBC USA Inc. plans to price autocallable contingent income barrier notes due June 29, 2021 linked to the least performing of the common stocks of AbbVie Inc., Netflix, Inc. and JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of at least 10.55% if each stock closes at or above its 50% coupon barrier on the observation date for that month.

The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date after six months.

The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.

HSBC Securities (USA) Inc. is the agent.

The notes will price on June 26 and settle on June 29.

The Cusip number is 40435FG84.

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