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HSBC plans three-year growth barrier autocallables linked to S&P 500
By Susanna Moon
Chicago, Feb. 26 – HSBC USA Inc. plans to price 0% autocallable growth barrier notes due April 1, 2019 linked to the S&P 500 index, according to an FWP filed with the Securities and Exchange Commission.
The notes will be called at par plus at least 13.5% if the index closes above the 110% call level on March 29, 2017.
The payout at maturity will be par plus at least 135% of any index gain.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% barrier level.
The exact deal terms, including call premium and upside participation rate, will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes will price on March 28 and settle on March 31.
The Cusip number is 40433UJN7.
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