By Susanna Moon
Chicago, Nov. 9 - HSBC USA Inc. priced $2.82 million of 6.4% autocallable yield notes due Nov. 13, 2013 linked to the Russell 2000 index and the iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the closing level of each underlying index is at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either index falls below its trigger level - 70% of its initial level - during the life of the notes and the return of the worst-performing index is negative, in which case investors will receive par plus the return of the worst-performing index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Russell 2000 index and the iShares MSCI EAFE index fund
|
| Amount: | $2,824,000
|
| Maturity: | Nov. 13, 2013
|
| Coupon: | 6.4%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls below trigger level during the life of the notes and return of worst-performing index is negative, in which case par plus return of worst-performing index
|
| Initial levels: | 804.52 for Russell, for $53.26 for EAFE fund
|
| Trigger levels: | 70% of initial levels
|
| Call: | At par if both indexes are at or above their initial levels on any quarterly call observation date
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 13
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40432X2Z3
|
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