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HSBC plans three-year autocallable step-up notes tied to Euro Stoxx 50
By Susanna Moon
Chicago, March 20 – HSBC USA Inc. plans to price 0% autocallable market-linked step-up notes due March 2020 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of at least 13% if the index closes at or above the initial index level on either annual call observation date.
If index finishes above its step-up level, 130% of the initial index level, the payout at maturity will be par plus the return.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment, 30%.
Otherwise, investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price on March 21 and settle on March 24.
The Cusip number is 40433UY42.
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