HSBC plans trigger autocallable optimization notes linked to Vodafone

By Toni Weeks

San Luis Obispo, Calif., Aug. 5 – HSBC USA Inc. plans to price 0% trigger autocallable optimization securities due Aug. 13, 2020 linked to the American Depositary Shares of Vodafone Group plc, according to an FWP with the Securities and Exchange Commission.

The notes will be called at par of $10 plus a call return of 10% per year if the stock closes at or above the initial price on any quarterly observation date beginning Aug. 12, 2016.

If the notes are not called and the stock finishes at or above the trigger price, 65% to 72% of the initial price, the payout at maturity will be par. The exact trigger price will be set at pricing.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The notes (Cusip: 40434E531) will price Aug. 7 and settle Aug. 12.

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