HSBC plans to price 8% autocallable yield notes linked to Apple

By Angela McDaniels

Tacoma, Wash., Sept. 4 – HSBC USA Inc. plans to price 8% autocallable yield notes due Sept. 16, 2016 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be automatically called at par plus the coupon if the stock closes at or above the initial share price on March 11, 2016, June 13, 2016 or Sept. 13, 2016.

A trigger event occurs if the stock closes below the trigger price, 65% to 70% of the initial price, on any day during the life of the notes. The exact trigger price will be set at pricing.

The payout at maturity will be par unless a trigger event occurs and the stock finishes below its initial price, in which case investors will be fully exposed to the decline in Apple’s share price.

HSBC Securities (USA) Inc. is the agent.

The notes will price Sept. 11 and settle Sept. 16.

The Cusip number is 40433UAD8.

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