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HSBC to price autocallable barrier notes tied to S&P, Russell, Stoxx
By Sarah Lizee
Olympia, Wash., Oct. 22 – HSBC USA Inc. plans to price autocallable barrier notes with contingent return due Oct. 31, 2028 linked to the lesser performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 11.5% if each index closes at or above its coupon trigger, 80% of the initial level, on a quarterly observation date. The exact coupon will be set at pricing.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning on Oct. 28, 2019.
The payout at maturity will be par plus the contingent coupon, if any, unless either index finishes below its 80% barrier level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Oct. 26 and settle on Oct. 31.
The Cusip number is 40435F6F9.
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