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HSBC plans 5%-6% autocallable yield notes linked to two indexes
By Jennifer Chiou
New York, Oct. 2 - HSBC USA Inc. plans to price 5% to 6% autocallable yield notes due Jan. 30, 2015 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 monthly, with the exact rate to be set at pricing.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning on April 30, 2014.
The payout at maturity will be par unless any index finishes below its 80% trigger level, in which case investors will receive par plus the return of the worst performing index.
The notes (Cusip: 40432XMB4) are expected to price on Oct. 25 and settle on Oct. 30.
HSBC Securities (USA) Inc. is the agent.
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