HSBC plans 6%-8% airbag autocallable yield notes linked to Tesoro

By Susanna Moon

Chicago, Jan. 11 – HSBC USA Inc. plans to price 6% to 8% airbag autocallable yield notes due Jan. 22, 2018 linked to Tesoro Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called at par if Tesoro shares close at or above its 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 Tesoro shares equal to $1,000 divided by the conversion price. The conversion price will be 80% of the initial share price.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

The notes will price on Jan. 13 and settle on Jan. 19.

The Cusip number is 40435C682.

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