By Wendy Van Sickle
Columbus, Ohio, Jan. 19 – HSBC USA Inc. priced $4.27 million of 8% airbag autocallable yield notes due Jan. 22, 2018 linked to Tesoro Corp. 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 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 85% of the initial share price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Tesoro Corp.
|
| Amount: | $4,267,000
|
| Maturity: | Jan. 22, 2018
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| Coupon: | 8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Tesoro shares equal to $1,000 divided by conversion price; otherwise, par
|
| Initial share price: | $79.61
|
| Conversion price: | $63.69, 80% of initial price
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 40435C682
|
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