By Susanna Moon
Chicago, May 29 – HSBC USA Inc. priced $1.3 million of 8.4% airbag autocallable yield notes due May 23, 2019 linked to Western Digital Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the shares close at or above the initial share price 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 Western Digital shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Western Digital Corp. (symbol: WDC)
|
| Amount: | $1,295,000
|
| Maturity: | May 23, 2019
|
| Coupon: | 8.4%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case 11.7994 Western Digital shares
|
| Call: | At par if shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $84.75
|
| Conversion price: | $67.80, 80% of initial share price
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Underwriters: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40435M250
|
|
|
|
|
|
|
|
|
© 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.
