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HSBC plans two-year 5%-7% autocallable notes linked to Russell 2000
By Susanna Moon
Chicago, May 3 - HSBC USA Inc. plans to price 0% autocallable notes due May 30, 2014 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 5% to 7% if the index closes at or above the initial level on any semiannual observation date.
If the notes are not called, the payout at maturity will be par if the index finishes at or above the 70% trigger level.
Otherwise, investors will lose 1.4286% for every 1% decline beyond the 30% buffer.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on May 24 and settle on May 30.
The Cusip number is 4042K1L68.
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