HSBC plans seven-year averaging notes with minimum return on DJIA

By Jennifer Chiou

New York, Nov. 8 - HSBC USA Inc. plans to price 0% averaging notes with minimum return due Nov. 24, 2017 linked to the Dow Jones Industrial Average, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus the greater of the average index return and the minimum return. The return will be measured averaging the closing levels of the index on the 19th day of February, May, August and November during the life of the notes.

The 5% minimum return amounts to an annual percentage yield of 0.71%.

The notes (Cusip: 4042K1AJ2) will price on Nov. 19 and settle Nov. 24.

HSBC Securities (USA) Inc. is the agent.

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