HSBC plans autocallable market-linked step-up notes tied to Stoxx 50

New York, July 30 – HSBC USA Inc. plans to price autocallable market-linked step-up notes due August 2023 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at an annual call premium of 9.5% to 10.5% if the index closes at or above its initial level on either annual call date. The exact call premium will be set at pricing.

If the index finishes at or above the step-up value – 150% of the initial level – the payout at maturity will be par of $10 plus the index gain.

If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 50%.

Investors will receive par if the index declines by up to 15% and will be exposed to any losses beyond 15%.

BofA Merrill Lynch is the agent.

The notes will price in August and settle in September.

© 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.