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HSBC plans 5.64% 18-month yield autocallables linked to S&P, Russell
By Susanna Moon
Chicago, April 4 – HSBC USA Inc. plans to price 5.64% autocallable yield notes due Oct. 31, 2018 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly, with the exact rate to be set at pricing.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning Oct. 26, 2017.
The payout at maturity will be par unless either index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 25 and settle on April 28.
The Cusip number is 40433U2V7.
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