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Published on 5/5/2014 in the Prospect News Structured Products Daily.

HSBC plans contingent income autocallable notes linked to Netflix

By Marisa Wong

Madison, Wis., May 5 - HSBC USA Inc. plans to price contingent income autocallable securities due May 14, 2015 linked to Netflix, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment of 3.4375% if Netflix stock closes at or above the 65% barrier level on a quarterly determination date.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial share price on any of the first three quarterly determination dates.

If the notes are not called and the final share price is greater than or equal to the 65% downside threshold level, the payout at maturity will be par plus the contingent payment.

Otherwise, the payout will be a number of Netflix shares equal to $10 divided by the initial share price or, at the issuer's option, the cash equivalent.

HSBC Securities (USA) Inc. is the agent.

The notes will price on May 9 and settle on May 14.

The Cusip number is 40434C584.


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