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HSBC plans autocallable yield notes linked to S&P 500, Russell 2000
By Marisa Wong
Madison, Wis., July 6 – HSBC USA Inc. plans to price autocallable yield notes due Oct. 31, 2016 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly. The coupon is expected to be at least 6.25% and will be set at pricing.
Beginning Jan. 27, 2016, the notes will be automatically 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 final return of the least-performing index is negative, in which case investors will be fully exposed to the decline of the least-performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price July 28 and settle July 31.
The Cusip number is 40433B2T4.
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