HSBC plans 7%-9% autocallable yield notes on S&P 500, Russell

By Susanna Moon

Chicago, Jan. 2 - HSBC USA Inc. plans to price 7% to 9% autocallable yield notes due Jan. 21, 2014 linked to the S&P 500 index and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if the closing level of each underlying index is at or above its initial level on any quarterly call observation date.

The payout at maturity will be par unless either index falls below its trigger level - 70% of its initial level - during the life of the notes and the return of the worst-performing index is negative, in which case investors will receive par plus the return of the worst-performing index.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Jan. 15 and settle on Jan. 18.

The Cusip number is 40432X5P2.

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