By Susanna Moon
Chicago, Dec. 15 – HSBC USA Inc. priced $965,000 of 10.5% autocallable yield notes due Dec. 10, 2018 linked to the American Depositary Shares of JD.com, Inc. and Alibaba Group Holding 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 review date.
The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
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: | JD.com, Inc. (Symbol: JD) and Alibaba Group Holding Ltd. (Symbol: BABA)
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| Amount: | $965,000
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| Maturity: | Dec. 10, 2018
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| Coupon: | 10.5%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless either stock falls below 70% trigger, in which case full exposure to any losses of worse performing stock
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| Call: | At par if each index closes at or above initial level on any quarterly review date beginning March 5, 2018
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| Initial levels: | $37.30 for JD and $168.96 for Alibaba
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| Barrier levels: | $26.11 for JD and $118.272 for Alibaba; 70% of initial levels
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 8
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40435J844
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