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HSBC plans five-year autocallable yield notes tied to three indexes
By Marisa Wong
Madison, Wis., Dec. 13 - HSBC USA Inc. plans to price autocallable yield notes due December 2018 linked to the S&P 500 index, the Euro Stoxx 50 index and the Nikkei 225 index, according to an FWP filing with the Securities and Exchange Commission.
The notes carry a coupon of Libor plus a spread of at least 400 basis points. The exact spread will be set at pricing. Interest is payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning in December 2014.
A trigger event occurs if any index closes below its 60% trigger level on any day during the life of the notes.
The payout at maturity will be par unless a trigger event occurs and the final return of the least performing index is negative, in which case investors will receive par plus the return of the worst performing index.
The notes (Cusip: 40432XQX2) will price and settle in December.
HSBC Securities (USA) Inc. is the agent.
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