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HSBC to price autocallable barrier notes on S&P 500, SPDR Oil & Gas
By Wendy Van Sickle
Columbus, Ohio, March 31 – HSBC USA Inc. plans to price autocallable barrier notes with contingent return due April 29, 2020 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The notes will called at par plus a call premium of 16% to 20% a year if each asset closes at or above its initial level on any annual observation date.
The payout at maturity will be par plus a contingent payment of 10% unless either asset closes below 60% of its initial value, in which case investors will be fully exposed to the loss of the worse performing asset.
HSBC Securities (USA) is the agent.
The notes will price April 22 and settle April 29.
The Cusip number is 40433UKB1.
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