By Devika Patel
Knoxville, Tenn., Oct. 12 – HSBC USA Inc. priced $2 million of 9.75% autocallable yield notes due Oct. 15, 2018 linked to the least performing of the common stocks of Baker Hughes Inc. and Schlumberger 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 stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless either stock finishes below its 65% trigger level, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the company’s option, the cash equivalent.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Baker Hughes Inc. and Schlumberger Ltd.
|
| Amount: | $2 million
|
| Maturity: | Oct. 15, 2018
|
| Coupon: | 9.75%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below its 65% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | Automatically at par if stocks close at or above their initial levels on any quarterly review date
|
| Initial share prices: | $52.84 for Baker Hughes and $81.31 for Schlumberger
|
| Trigger share prices: | $34.35 for Baker Hughes and $52.85 for Schlumberger, 65% of initial levels
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 13
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40433UWY8
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
