By Jennifer Chiou
New York, March 4 - HSBC USA Inc. priced $2,865,000 of 5% autocallable yield notes due Sept. 5, 2014 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning six months after issuance, the notes will be called at par if each index closes at or above its initial level on a quarterly call observation date.
The payout at maturity will be par unless either index falls below its trigger level - 80% of its initial level - during the life of the notes and the return of the worst-performing index is negative, in which case investors will receive par plus the return of the worst-performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $2,865,000
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Maturity: | Sept. 5, 2014
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Coupon: | 5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index falls below trigger level during life of notes and return of worst-performing index is negative, in which case par plus return of worst-performing index
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Call: | At par if both indexes close at or above their initial levels on any quarterly call date beginning on Aug. 30, 2013
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Initial index levels: | 1,514.68 for S&P 500 and 911.11 for Russell
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Trigger levels: | 80% of initial levels
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Pricing date: | Feb. 28
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Settlement date: | March 5
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.25%
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Cusip: | 40432XBN0
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