HSBC USA to price autocallable notes linked to Citigroup, JPMorgan, Goldman Sachs

By Angela McDaniels

Tacoma, Wash., March 13 - HSBC USA Inc. plans to price 0% autocallable notes due March 28, 2011 linked to the common stocks of Citigroup Inc., Goldman Sachs Group, Inc. and JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.

The notes will be automatically called if the closing price of each stock is at or above its initial price on an auto redemption date. The redemption amount will be 140% of par if the notes are called on March 27, 2009, 180% of par if called on March 29, 2010 and 220% of par if called on March 28, 2011.

If the notes are not called, the payout at maturity will be par if the final price of each stock is greater than or equal to its barrier price - 50% of the initial share price. Otherwise, the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock's initial price.

The notes are expected to price on March 24 and settle on March 27.

HSBC Securities (USA) Inc. will be the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.