HSBC to price 8.45%-9.45% airbag autocallables linked to Broadcom

By Angela McDaniels

Tacoma, Wash., July 25 – HSBC USA Inc. plans to price 8.45% to 9.45% airbag autocallable yield notes due Aug. 5, 2020 linked to the common stock of Broadcom Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact interest rate will be set at pricing.

The notes will be called automatically at par if Broadcom 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 Broadcom shares equal to $1,000 divided by the conversion price. The conversion price will be 85% of the initial share price.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes are expected to price July 29.

The Cusip number is 40436B360.

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