HSBC plans to price autocallable yield notes tied to JD.com, Ctrip.com

By Tali Rackner

Minneapolis, Aug. 28 – HSBC USA Inc. plans to price autocallable yield notes due Sept. 12, 2018 linked to the American Depositary Shares of JD.com, Inc. and Ctrip.com International, Ltd., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a quarterly coupon at an annual rate of at least 10.5%. The exact coupon will be set at pricing.

Beginning Dec. 7, 2018, the notes will be called at par of $1,000 plus the interest payment if each stock closes at or above its initial level on any quarterly call date.

The payout at maturity will be par plus the final interest payment unless either stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the lesser-performing stock from its initial level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Sept. 6 and settle on Sept. 12.

The Cusip number is 40435G469.

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