HSBC plans 6%-8% autocallable yield notes linked to Russell, S&P 500

By Susanna Moon

Chicago, Nov. 15 - HSBC USA Inc. plans to price 6% to 8% autocallable yield notes due Dec. 2, 2013 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus accrued interest if the underlying components close above their initial levels on any quarterly observation date.

A trigger event will occur if either component falls below the 65% trigger level on any trading day.

The payout at maturity will be par unless a trigger event occurs and the return of the least-performing component is negative, in which case investors will share in any losses.

HSBC Securities (USA) Inc. will be the agent.

The notes will price on Nov. 27 and settle on Nov. 30.

The Cusip number is 40432X3N9.

© 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.