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HSBC plans 6% autocallable yield notes linked to Russell, S&P 500
By Susanna Moon
Chicago, Nov. 7 - HSBC USA Inc. plans to price 6% autocallable yield notes due May 21, 2014 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if the underlying components close above their initial levels on any quarterly observation date.
A trigger event will occur if either component falls below the 70% trigger level on any trading day.
The payout at maturity will be par unless a trigger event occurs and the return of the least-performing component is negative, in which case investors will share in any losses.
HSBC Securities (USA) Inc. will be the agent.
The notes will price on Nov. 16 and settle on Nov. 21.
The Cusip number is 40432X3H2.
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