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HSBC to price two-year autocallable notes linked to Russell 2000
By Marisa Wong
Madison, Wis., Jan. 3 - HSBC USA Inc. plans to price 0% autocallable notes due Jan. 27, 2014 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
The notes will be automatically called at par plus 5% to 7% per year if the index closes at or above the initial index level on a semiannual call date.
If the notes are not called and the final index level is at least 70% of the initial index level, the payout at maturity will be par. Investors will lose 1.4286% for every 1% that it declines beyond 30%.
The notes (Cusip: 4042K1VD2) are expected to price on Jan. 24 and settle on Jan. 27.
HSBC Securities (USA) Inc. is the underwriter.
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