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HSBC plans to price autocallable yield notes linked to Cemex
By Wendy Van Sickle
Columbus, Ohio, Dec. 12 – HSBC USA Inc. plans to price autocallable yield notes due May 31, 2018 linked to the American depositary shares of Cemex, SAB de CV, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be at least 12.5% per year and will be set at pricing. Interest will be payable quarterly.
The notes will be called at par if the shares close at or above their initial level on any quarterly call observation date.
The payout at maturity will be par unless the shares finish below their trigger level, 70% of their initial level, in which case investors will be fully exposed to the decline of the shares from their initial level.
HSBC Securities (USA) Inc. is the agent.
The notes will price and settle in December.
The Cusip number is 40433UE44.
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