By Jennifer Chiou
New York, May 15 - HSBC USA Inc. priced $3 million of 7% autocallable notes due Feb. 13, 2015 linked to the common stocks of Deere & Co. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each of the underlying stocks closes at or above its initial price on a quarterly call date.
If the notes are not automatically called, the payout at maturity will be par unless the final share price of either stock is less than 65% of its initial price, in which case the payout will be a cash amount equal to the product of (a) $1,000 divided by the initial price of the worst-performing stock and (b) the final share 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: | Deere & Co. (NYSE: DE), Walt Disney Co. (NYSE: DIS)
|
| Amount: | $3 million
|
| Maturity: | Feb. 13, 2015
|
| Coupon: | 7%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price of either stock is less than 65% of its initial price, in which case cash amount equal to the product of (a) $1,000 divided by the initial price of the worst-performing stock and (b) the final share price of the worst-performing stock
|
| Call: | At par if each of the underlying stocks closes at or above its initial price on a quarterly call date
|
| Initial prices: | $92.19 for Deere, $66.67 for Disney
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| Barrier prices: | 65% of initial prices
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| Pricing date: | May 10
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| Settlement date: | May 14
|
| Underwriter: | HSBC Securities (USA) Inc. with JPMorgan as agent
|
| Fees: | 1.1%
|
| Cusip: | 40432XFG1
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