HSBC plans 6.2%-7.2% airbag autocallable yield notes on Williams Cos.

By Marisa Wong

Morgantown, W.Va., July 6 – HSBC USA Inc. plans to price 6.2% to 7.2% airbag autocallable yield notes due July 16, 2018 linked to common stock of Williams Cos., Inc., 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 the stock closes at or above its initial 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 Williams Cos. 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.

The notes will price on July 7.

The Cusip number is 40435H525.

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