HSBC to price trigger autocallables linked to Euro Stoxx Banks index

By Angela McDaniels

Tacoma, Wash., Nov. 6 – HSBC USA Inc. plans to price trigger autocallable contingent yield notes due Nov. 15, 2019 linked to the Euro Stoxx Banks index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the index closes at or above the downside threshold level on the observation date for that quarter. The downside threshold level is expected to be 71% to 75% of the initial index level and will be set at pricing.

Beginning May 10, 2018, the notes will be automatically called at par of $10 if the index closes at or above the initial index level on any quarterly observation date.

If the notes are not called and the final index level is greater than or equal to the downside threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.

The notes will price Nov. 10.

The Cusip number is 40435H210.

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