HSBC to price contingent income autocallable notes tied to Biogen

By Wendy Van Sickle

Columbus, Ohio, May 2 – HSBC USA Inc. plans to price contingent income autocallable securities due Nov. 10, 2016 linked to the common stock of Biogen, Inc., , according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annual rate of at least 13.7% if the shares close at or above the 80% downside threshold level on the observation date for that month.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any of the first five determination dates.

The payout at maturity will be par plus the final coupon unless the shares finish below the 80% downside threshold level, in which case investors will be fully exposed to the decline.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 40434N127) will price on May 11 and settle May 6.

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