HSBC plans 8.7% autocallable yield notes on S&P 500, Russell

By Emma Trincal

New York, June 23 – HSBC USA Inc. plans to sell 8.7% autocallable yield notes due Oct. 1, 2021 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

Interest is paid monthly.

The notes will be called at par if each index closes at or above its initial level on any monthly call observation date, starting Dec. 29.

The payout at maturity will be par unless any index finishes below its barrier level, 70% of its initial level, in which case investors will be fully exposed to the worst-performing index.

HSBC Securities (USA) Inc. is the agent.

The notes will price on June 26.

The Cusip number is 40438CMR9.

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