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HSBC to price 7.9% autocallable yield notes linked to three stocks
By Marisa Wong
Madison, Wis., Oct. 6 – HSBC USA Inc. plans to price autocallable yield notes due October 2015 linked to the common stocks of BP plc, Chevron Corp. and Total SA, according to an FWP with the Securities and Exchange Commission.
Interest is payable quarterly and will be at least 7.9%.
The notes will be called at par if each stock closes at or above its initial price on any call observation date beginning in January 2015.
The payout at maturity will be par unless the final share price of any stock is below its trigger price, 80% of its initial price, in which case investors will be fully exposed to the decline of the worst-performing stock.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in October.
The Cusip number is 40433BQD3.
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