By William Gullotti
Buffalo, N.Y., April 18 – HSBC USA Inc. priced $2.13 million of autocallable contingent income barrier notes due May 17, 2024 linked to the performance of Blackstone Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 22.25% if the stock closes at or above the coupon trigger level, 68% of the initial share price, on the relevant observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any monthly observation date after six months.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 68% barrier price, in which case investors will receive a number of shares per note equal to $1,000 divided by the initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable contingent income barrier notes
|
| Underlying stock: | Blackstone Inc.
|
| Amount: | $2,125,000
|
| Maturity: | May 17, 2024
|
| Coupon: | 22.25%, payable monthly if the stock closes at or above coupon trigger level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock finishes below barrier price, in which case receive a number of shares per note equal to $1,000 divided by the initial share price
|
| Call: | At par plus coupon if the stock closes at or above initial price on any monthly observation date after six months
|
| Initial price: | $82.61
|
| Coupon trigger/barrier price: | $56.1748; 68% of initial price
|
| Pricing date: | April 12
|
| Settlement date: | April 17
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40428HVS8
|
|
|
|
|
© 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.
