HSBC to price trigger autocallable securities tied to iShares MSCI EM

By Toni Weeks

San Diego, April 24 - HSBC USA Inc. plans to price 0% trigger autocallable optimization securities due April 28, 2017 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.

If the closing share price is greater than the initial price on any quarterly observation date after one year, the notes will be called at par plus an annualized call return of 7.7% to 10.2%. The exact call return will be set at pricing.

If the notes are not called and the final price is greater than or equal to 65% of the initial level, the payout at maturity will be par. Otherwise, investors will share fully in losses.

The notes (Cusip: 40433M872) are expected to price April 26 and settle April 30.

HSBC Securities (USA) Inc. will be the underwriter, and UBS Financial Services Inc. will be the agent.

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