HSBC plans to price autocallable yield notes tied to S&P 500, Russell

By Devika Patel

Knoxville, Tenn., July 14 – HSBC USA Inc. plans to price 4.75% autocallable yield notes due Jan. 31, 2019 linked to the lesser performing of 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, with the exact coupon to be set at pricing.

Beginning Jan. 26, 2018, the notes will be called at par of $1,000 plus the interest payment if each index closes at or above its initial level on any quarterly call date.

The payout at maturity will be par plus the final interest payment unless either index closes below its 70% trigger level on any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40435FBU0) will price on July 26 and settle on July 31.

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