By Angela McDaniels
Tacoma, Wash., April 17 - HSBC USA Inc. priced $3.61 million of 5.5% autocallable yield notes due July 21, 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.
Beginning six months after issuance, the notes will be called at par if each index closes at or above its initial level on any quarterly call observation date.
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: | $3,609,000
|
| Maturity: | July 21, 2015
|
| Coupon: | 5.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger level during life of notes and return of worst-performing index is negative, in which case 1% loss for every 1% that worst-performing index declines
|
| Call: | Automatically at par if both indexes close at or above their initial levels on any quarterly call observation date beginning in October 2014
|
| Initial index levels: | 1,842.98 for S&P 500 and 1,119.495 for Russell 2000
|
| Trigger levels: | 80% of initial levels
|
| Pricing date: | April 15
|
| Settlement date: | April 21
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.25%
|
| Cusip: | 40432XY54
|
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