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HSBC plans two-year market-linked autocallables on S&P, Russell, Stoxx
By Susanna Moon
Chicago, April 17 – HSBC USA Inc. plans to price market-linked securities due May 2, 2019 – autocallable with contingent coupon and contingent downside linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.7% to 8.7% if each index closes at or above its coupon trigger, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Oct. 26, 2017.
The payout at maturity will be par unless any index finishes below its 70% barrier level, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC are the agents.
The notes will price on April 27 and settle on May 2.
The Cusip number is 40433U2C9.
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