HSBC to price autocallable notes linked to gold, metals/mining ETFs

By Angela McDaniels

Tacoma, Wash., Nov. 13 – HSBC USA Inc. plans to price 0% autocallable notes due Nov. 23, 2020 linked to the Market Vectors Gold Miners exchange-traded fund and the SPDR S&P Metals and Mining exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus 14% per year if each ETF closes at or above its initial share price on any annual observation date.

If each ETF’s final share price is greater than or equal to its initial share price, the payout at maturity will be par plus 42%. If the final share price of the lesser-performing ETF is less than its initial share price but greater than or equal to its barrier price, 50% of its initial share price, the payout will be par. If the final share price of the lesser-performing ETF is less than its barrier price, investors will lose 1% for every 1% that the lesser-performing ETF declines from its initial share price.

HSBC Securities (USA) Inc. is the agent.

The notes will price Nov. 17.

The Cusip number is 40435FLU9.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.