| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans three-year market-linked step-up autocallables on S&P 500
By Susanna Moon
Chicago, Sept. 25 – HSBC USA Inc. plans to price autocallable market-linked step-up notes due October 2018 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The notes will be called at a premium of 8% to 9% if the index closes at or above its initial level on either annual call date.
If the index finishes at or above the step-up value – 125% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 25%.
Investors will be exposed to any losses.
Merrill Lynch & Co. is the agent.
The notes will price and settle in October.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.