By Wendy Van Sickle
Columbus, Ohio, Jan. 21 – HSBC USA Inc. priced $13.2 million of 10.87% autocallable yield notes due Jan. 22, 2024 linked to the common stock of WW International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the shares close at or above their initial price on any quarterly observation date after six months.
The payout at maturity will be par unless the final share price is less than the 50% barrier, in which case investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
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| Issue: | Autocallable yield notes
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| Underlying stock: | WW International, Inc.
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| Amount: | $13.2 million
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| Maturity: | Jan. 22, 2024
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| Coupon: | 10.87%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par, unless final share price is less than barrier price, in which case full exposure to decline
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| Call: | Automatically at par if shares close at or above initial price on any quarterly observation date after six months
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| Initial share price: | $25.975
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| Conversion price: | 50% of initial price
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | 2.5%
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| Cusip: | 40438CR52
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