Published on 6/8/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.25 million autocallable yield notes tied to three stocks
By Wendy Van Sickle
Columbus, Ohio, June 8 – HSBC USA Inc. priced $2.25 million of 10% autocallable yield notes due June 11, 2019 linked to the least performing of the common stocks of Amgen, Inc., Biogen Inc. and Thermo Fisher Scientific Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par of $1,000 plus the interest payment if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final interest payment unless any stock finishes below its 75% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | Amgen, Inc., Biogen Inc., and Thermo Fisher Scientific Inc.
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| Amount: | $2.25 million
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| Maturity: | June 11, 2019
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| Coupon: | 10%, payable monthly
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| Price: | Par
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| Call: | Quarterly at par plus coupon if each index closes above initial level on an observation date
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| Payout at maturity: | Par plus coupon unless either index finishes below its initial level and either closes below 75% trigger level any day during life of notes, in which case full exposure to decline of lesser performing index
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| Initial levels: | $159.15 for Amgen, $256.65 for Biogen, $176.39 for Thermo Fisher
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| Trigger levels: | $119.3625 for Amgen, $192.4875 for Biogen, $132.2925 for Thermo Fisher; 75% of initial levels
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| Pricing date: | June 2
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| Settlement date: | June 9
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40435D367
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