By Kiku Steinfeld
Chicago, Aug. 17 – HSBC USA Inc. priced $1.32 million of 12% autocallable yield notes due Feb. 6, 2023 linked to the three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the stocks of Morgan Stanley, Tesla, Inc. and JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will receive a number of shares of the worst performing stock equal to the principal divided by the initial share price or, at the issuer’s option, the cash equivalent.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Morgan Stanley, Tesla, Inc. and JPMorgan Chase & Co.
|
| Amount: | $1,324,000
|
| Maturity: | Feb. 6, 2023
|
| Coupon: | 12%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its 60% trigger level, in which case a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | Automatically at par if stocks close at or above their initial levels on any quarterly call date after six months
|
| Initial share prices: | $151.78 for JPMorgan, $95.98 for Morgan Stanley and $687.20 for Tesla
|
| Trigger share prices: | $91.068 for JPMorgan, $57.588 for Morgan Stanley and $412.32 for Tesla, 60% of initial levels
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 4
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40428HQS4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
