| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC to price autocallable notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 7 - HSBC USA Inc. plans to price 0% autocallable notes due May 2, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called at increasing premiums if the index closes at or above the call level - 90% of its initial level - on any of four valuation dates.
The redemption amount will be par plus 5% to 7.5% if the notes are called Oct. 27, 2009, par plus 10% to 15% if called April 27, 2010, par plus 15% to 22.5% if called Oct. 27, 2010 and par plus 20% to 30% if called April 27, 2011. The exact auto redemption amounts will be set at pricing.
If the notes are not called, the payout at maturity will be par if the index declines by up to 10%. Investors will lose 1% for every 1% decline beyond 10%.
The notes are expected to price April 27 and settle April 30.
HSBC Securities (USA) Inc. is the agent.
© 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.