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HSBC to price three-year autocallable notes linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., Dec. 5 - HSBC USA Inc. plans to price autocallable notes due December 2016 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of at least 8.25% if the index closes at or above the initial level on any annual call observation date. The exact call premium will be set at pricing.
The payout at maturity will be par unless the final index level is less than the barrier level, 75% of the initial level, in which case the payout will be par plus the index return, with full exposure to losses from the initial index level.
The notes (Cusip: 40432XQT1) are expected to price and settle in December.
HSBC Securities (USA) Inc. is the agent.
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