HSBC plans 10%-12% autocallable yield notes linked to S&P 500, Russell

By Susanna Moon

Chicago, March 29 - HSBC USA Inc. plans to price 10% to 12% autocallable yield notes due April 12, 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 is payable quarterly.

The notes will be called at par if both indexes close at or above their initial levels on any quarterly observation date.

A trigger event will occur if either index falls below the 75% trigger level during the life of the notes.

The payout at maturity will be par unless a trigger event occurs and the return of the worst-performing index is negative or zero, in which case investors will be exposed to any of those losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on April 5 and settle on April 11.

The Cusip is 4042K1C35.

© 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.