HSBC plans trigger autocallables due 2017 on iShares Russell 2000

By Jennifer Chiou

New York, Feb. 22 - HSBC USA Inc. plans to price 0% trigger autocallable optimization securities due Feb. 28, 2017 linked to the iShares Russell 2000 index fund, according to an FWP with the Securities and Exchange Commission.

The notes will be called at par of $10 plus at an annualized call premium of 9.75% to 12.25% if the fund's shares close at or above the initial share price on any quarterly observation date.

The payout at maturity will be par if the final share price is at least 65% of the initial level.

If the fund finishes below 65% of the initial share price, investors will be fully exposed to any losses.

The notes (Cusip: 40433K447) are expected to price on Feb. 27 and settle on Feb. 29.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.

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