By Toni Weeks
San Diego, Nov. 29 - HSBC USA Inc. priced $310,000 of 6% autocallable yield notes due Dec. 2, 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 monthly.
The notes will be called at par if the closing level of each underlying component is at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either component falls below its trigger level - 70% of its initial level - during the life of the notes and the return of the worst-performing component is negative, in which case investors will receive par plus the return of the worst-performing component.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Russell 2000 index, iShares MSCI EAFE index fund
|
| Amount: | $310,000
|
| Maturity: | Dec. 2, 2013
|
| Coupon: | 6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either component falls below 70% trigger level during life of the notes and return of worst-performing component is negative, in which case par plus return of worst-performing component
|
| Initial levels: | 807.74 for Russell, $54.13 for iShares MSCI EAFE
|
| Trigger levels: | 70% of initial levels
|
| Call: | At par if both components are at or above their initial levels on any quarterly call observation date beginning Feb. 26
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40432X3G4
|
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