By Susanna Moon
Chicago, April 21 – HSBC USA Inc. priced $3.03 million of 7.8% airbag autocallable yield optimization notes due April 22, 2016 linked to BioMarin Pharmaceutical Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if BioMarin shares close at or above the initial share 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 BioMarin shares equal to $1,000 divided by the conversion price. The conversion price is 70% of the initial share price.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Airbag autocallable yield optimization notes
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| Underlying stock: | BioMarin Pharmaceutical Inc. (Symbol: BMRN)
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| Amount: | $3,032,000
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| Maturity: | April 22, 2016
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| Coupon: | 7.8%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case number of BioMarin shares equal to $1,000 divided by conversion price
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| Call: | At par if BioMarin shares close at or above initial share price on any quarterly observation date
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| Initial level: | $120.91
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| Conversion price: | $84.64, 70% of initial share price
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agent: | UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 40434G551
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