By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – HSBC USA Inc. priced $3.5 million of 7% autocallable yield notes due Jan. 25, 2019 linked to Barrick Gold Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Barrick Gold shares close at or above its initial level on any monthly observation date.
The payout at maturity will be par unless the final share price is less than 70% of its initial level, in which case investors will be fully exposed to the loss.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
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| Underlying stock: | Barrick Gold Corp.
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| Amount: | $3.5 million
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| Maturity: | Jan. 25, 2019
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| Coupon: | 7%, payable monthly
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| Price: | Par
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| Call: | At par if stock closes above initial level on a monthly observation date
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| Payout at maturity: | Par unless stock finishes below 70% of initial level, in which case full exposure to loss
|
| Initial share price: | $16.92
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| Trigger price: | $11.844, 70% of initial price
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 25
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| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 40433UL95
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