By Susanna Moon
Chicago, Dec. 2 - HSBC USA Inc. priced $1.05 million of 12.5% autocallable notes due Feb. 13, 2015 linked to the common stocks of Las Vegas Sands Corp., Melco Crown Entertainment Ltd. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each of the underlying stocks closes at or above its initial price on a quarterly call date.
The payout at maturity will be par unless any stock finishes below the 70% trigger level, in which case the payout will be equal to $1,000 divided by the initial price of the worst performing stock.
HSBC Securities (USA) Inc. is the underwriter, and JPMorgan is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable notes
|
| Underlying stocks: | Las Vegas Sands Corp. (Symbol: LVS), Melco Crown Entertainment Ltd. (Symbol: MPEL) and Wynn Resorts, Ltd. (Symbol: WYNN)
|
| Amount: | $1.05 million
|
| Maturity: | Feb. 13, 2015
|
| Coupon: | 12.5%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below trigger level, in which case $1,000 divided by the initial price of worst performing stock
|
| Call: | At par if each of the underlying stocks closes at or above its initial price on quarterly call date
|
| Initial prices: | $70.77 for the Las Vegas Sands, $34.70 for Melco and $164.00 for Wynn
|
| Barrier prices: | 70% of initial prices
|
| Pricing date: | Nov. 26
|
| Settlement date: | Nov. 29
|
| Underwriter: | HSBC Securities (USA) Inc. with JPMorgan as agent
|
| Fees: | 1%
|
| Cusip: | 40432XNX5
|
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