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HSBC plans autocallable yield notes linked to S&P 500, Russell 2000
By Jennifer Chiou
New York, Oct. 20 – HSBC USA Inc. plans to price 6.5% autocallable yield notes due May 5, 2016 linked to the S&P 500 index and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.
Interest will be 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 Nov. 5, 2015.
The payout at maturity will be par unless either index closes below its trigger level, 70% 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 be fully exposed to any losses of the worst-performing index.
The notes (Cusip: 40433BRG5) will price on Oct. 31 and settle on Nov. 5.
HSBC Securities (USA) Inc. is the agent.
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