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HSBC plans 5.5% 15-month autocallable yield notes linked to indexes
By Susanna Moon
Chicago, Sept. 4 – HSBC USA Inc. plans to price 5.5% autocallable yield notes due Dec. 30, 2016 linked to 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 percentage 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 review date beginning March 24, 2016.
The payout at maturity will be par unless either index closes below its 70% trigger level, of its initial level, on any day during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed to the any losses of the worst performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Sept. 25 and settle on Sept. 30.
The Cusip number is 40433B6L7.
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