HSBC plans contingent income autocallables linked to Las Vegas Sands

By Susanna Moon

Chicago, March 2 – HSBC USA Inc. plans to price contingent income autocallable securities due March 10, 2017 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 13% if the shares close at or above the 60% downside threshold level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any of the first three determination dates.

The payout at maturity will be par plus the final coupon unless the shares finish below the 60% downside threshold, in which case investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management handling distribution.

The notes will price on March 4 and settle on March 9.

The Cusip number is 40434N630.

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