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HSBC plans 7.5% six-month autocallable yield notes on S&P, Russell
By Susanna Moon
Chicago, Jan. 6 - HSBC USA Inc. plans to price 7.5% autocallable yield notes due July 25, 2012 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes at or above its initial level on any of three observation dates. They are March 21, May 22 and July 20, 2012.
The payout at maturity will be par unless either index dips below the trigger level - 70% of the initial level - during the life of the notes and finishes below the initial level, in which case investors will receive par plus the return of the worst-performing index.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Jan. 20 and settle on Jan. 25.
The Cusip number is 4042K1VK6.
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