By William Gullotti
Buffalo, N.Y., April 4 – HSBC USA Inc. priced $555,000 of 18.78% autocallable yield notes due April 3, 2023 linked to the stock performance Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if the stock closes at or above its initial level on any quarterly call date.
The payout at maturity will be par unless the stock closes below its 60% trigger price on any trading day during the life of the notes and finishes below its initial share price, in which case investors will receive a number of shares 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 stock: | Tesla, Inc.
|
| Amount: | $555,000
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| Maturity: | April 3, 2023
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| Coupon: | 18.78%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock closes below its 60% trigger price on any trading day during the life of the notes and finishes below its initial level, in which case a number of shares equal to the principal divided by the initial share price or the cash equivalent
|
| Call: | Automatically at par if stock closes at or above initial level on any quarterly call date
|
| Initial share price: | $1,093.99
|
| Trigger price: | $656.394; 60% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 1
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 4%
|
| Cusip: | 40439JM51
|
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