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 plans 6.5%-8.5% autocallable yield notes tied to S&P 500, Russell
By Susanna Moon
Chicago, Oct. 15 - HSBC USA Inc. plans to price 6.5% to 8.5% autocallable yield notes due Oct. 31, 2013 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date.
A trigger event will occur if either index closes ever below the 65% trigger level during the life of the notes.
The payout at maturity will be par unless either index finishes below its initial level and a trigger event has occurred, in which case investors will be fully exposed to any losses of the worse-performing index.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price on Oct. 26 and settle on Oct. 31.
The Cusip number is 4042K15J8.
© 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.