Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $4.19 million 9.45% airbag autocallable yield notes on Twitter
By Sarah Lizee
Olympia, Wash., Nov. 27 – HSBC USA Inc. priced $4.19 million of 9.45% airbag autocallable yield notes due Nov. 21, 2019 linked to Twitter, 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 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: | Twitter, Inc.
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Amount: | $4,194,000
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Maturity: | Nov. 21, 2019
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Coupon: | 9.45%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of shares equal to $1,000 divided by conversion price; otherwise, par
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Call: | Automatically at par if shares close at or above initial level on any quarterly observation date
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Initial share price: | $33.67
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Conversion price: | $21.89, 85% of initial price
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Pricing date: | Nov. 16
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Settlement date: | Nov. 21
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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: | 40436A727
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