By Marisa Wong
Madison, Wis., March 14 - HSBC USA Inc. priced $2.82 million of 5.5% autocallable yield notes due June 17, 2015 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 quarterly call observation date beginning in September 2014.
The payout at maturity will be par unless either index closes below its trigger level, 80% of its initial level, on any day 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.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,822,000
|
| Maturity: | June 17, 2015
|
| Coupon: | 5.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls below trigger level during life of notes and return of worst-performing index is negative, in which case par plus return of worst-performing index
|
| Call: | At par if both indexes close at or above their initial levels on any quarterly call observation date beginning in September 2014
|
| Initial index levels: | 1,868.20 for S&P 500 and 1,191.37 for Russell 2000
|
| Trigger levels: | 80% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.25%
|
| Cusip: | 40432XUL3
|
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