HSBC plans 6%-8.8% autocallable yield notes tied to S&P 500, Russell

By Jennifer Chiou

New York, Nov. 1 - HSBC USA Inc. plans to price 6% to 8.8% autocallable yield notes due Nov. 18, 2013 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date.

A trigger event will occur if either index closes ever below the 65% trigger level during the life of the notes.

The payout at maturity will be par unless either index finishes below its initial level and a trigger event has occurred, in which case investors will be fully exposed to any losses of the worse-performing index.

The notes (Cusip: 40432X2G5) are expected to price on Nov. 13 and settle on Nov. 16.

HSBC Securities (USA) Inc. is the agent.

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