HSBC plans autocallable notes with contingent return tied to index, ETF

By Marisa Wong

Morgantown, W.Va., Dec. 16 – HSBC USA Inc. plans to price autocallable notes with contingent return due Dec. 30, 2019 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus an annualized call premium of 18.5% to 21.5% if each component closes at or above the initial level on any annual call date.

The payout at maturity will be par plus a 10% contingent return payment unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing component.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Dec. 18 and settle on Dec. 28.

The Cusip number is 40433UDS2.

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