| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans 9.5%-12.5% autocallable yield notes on S&P, Russell indexes
By Susanna Moon
Chicago, Jan. 3 - HSBC USA Inc. plans to price 9.5% to 12.5% autocallable yield notes due Jan. 28, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any of four quarterly observation dates. They are April 24, July 24, 2012, Oct. 24, 2012 and Jan. 23, 2013.
The payout at maturity will be par unless either index dips below the trigger level - 70% of the initial level - during the life of the notes and finishes below the initial level, in which case investors will receive par plus the return of the worst-performing index.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Jan. 24 and settle on Jan. 27.
The Cusip number is 4042K1UT8.
© 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.