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HSBC plans autocallable yield notes on S&P 500, Euro Stoxx, Nikkei
By Marisa Wong
Madison, Wis., June 4 - HSBC USA Inc. plans to price autocallable yield notes due June 2018 linked to the S&P 500 index, Euro Stoxx 50 index and the Nikkei 225 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be equal to Libor plus a spread of at least 450 basis points and will be payable quarterly. The exact coupon will be set at pricing.
The notes will be called at par if each underlying index closes at or above its initial level on any quarterly call observation date after one year.
A trigger event occurs if any underlying index closes below the 50% trigger level during the life of the notes.
If the notes are not called, the payout at maturity will be par unless a trigger event has occurred and the return of the least performing index is negative, in which case investors will be fully exposed to any losses of the least performing index.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in June.
The Cusip number is 40432XGA3.
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