HSBC plans six-year contingent income barrier notes on iShares MSCI EM

By Susanna Moon

Chicago, May 26 – HSBC USA Inc. plans to price autocallable contingent income barrier notes due June 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly payment at an annual rate of 6% if the fund closes at or above the 70% downside threshold level on a determination date for that quarter.

The payout at maturity will be par plus the contingent unless the fund finishes below the 70% trigger level, in which case investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price in May and settle in June.

The Cusip number is 40433UPJ9.

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