HSBC to price trigger autocallables linked to SPDR S&P 500 ETF trust

By Marisa Wong

Madison, Wis., March 1 - HSBC USA Inc. plans to price 0% trigger autocallable optimization securities due March 8, 2017 linked to the SPDR S&P 500 ETF trust, according to an FWP filing with the Securities and Exchange Commission.

If the closing share price on any quarterly observation date is greater than or equal to the initial share price, the notes will be called at par of $10 plus a call return of 7% to 9% per year. The exact call return will be set at pricing. The first observation date will be March 8, 2013.

If the notes are not called and the final share price is greater than or equal to 70% of the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the share price decline.

The securities (Cusip: 40433K322) will price on March 2 and settle on March 7.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

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