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HSBC plans autocallable yield notes linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, July 15 – HSBC USA Inc. plans to price autocallable yield notes due Jan. 31, 2018 linked to the Russell 2000 index and the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be at least 5.5% per year and will be set at pricing. Interest will be payable monthly.
Beginning Jan. 26, 2017, 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, 75% of its initial level, on any day during the life of the notes and the return of the least-performing index is negative, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
HSBC Securities (USA) Inc. is the agent.
The notes will price July 26.
The Cusip number is 40433UQE9.
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