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HSBC plans autocallable yield notes on S&P 500, Euro Stoxx, Nikkei
By Marisa Wong
Madison, Wis., Feb. 20 – HSBC USA Inc. plans to price autocallable yield notes due March 2020 linked to the S&P 500 index, the Euro Stoxx 50 index and the Nikkei 225 index, according to an FWP with the Securities and Exchange Commission.
Interest will equal Libor plus a spread of at least 500 basis points and will be payable quarterly. The exact spread will 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 in March 2016.
The payout at maturity will be par unless any index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and the return of the worst-performing index is negative, in which case investors will be fully exposed to the decline of the worst-performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price in February and settle in March.
The Cusip number is 40433BB31.
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