Published on 3/17/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $900,000 9% autocallable yield notes tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, March 17 – HSBC USA Inc. priced $900,000 of 9% autocallable yield notes due March 28, 2018 linked to the least performing of the common stocks of Exxon Mobil Corp., Schlumberger NV and Suncor Energy Inc., according to a 414B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called quarterly at par plus the coupon if each stock closes above its initial level on the observation date for that quarter.
If the notes are not called, the payout at maturity will be par plus the coupon unless any of the stocks finishes below its 70% trigger level, in which case investors will receive a number of shares of the least performing stock equal to the principal amount divided by the initial price of the shares.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Exxon Mobil Corp., Schlumberger NV and Suncor Energy Inc.
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| Amount: | $900,000
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| Maturity: | March 28, 2018
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| Coupon: | 9%, payable quarterly
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| Price: | Par
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| Call: | Quarterly at par plus coupon if each stock closes above initial level on a quarterly observation date
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| Payout at maturity: | Par plus coupon unless any stock finishes below its 70% trigger level, in which case a number of shares of least performing stock equal to principal amount divided by initial price of the shares
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| Initial levels: | $80.99 for Exxon, $78.38 for Schlumberger, $29.72 for Suncor
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| Trigger levels: | $56.693 for Exxon, $54.866 for Schlumberger, $20.804 for Suncor, 70% of initial prices
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| Pricing date: | March 14
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| Settlement date: | March 28
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40435H681
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