HSBC plans contingent income autocallables linked to LyondellBasell

By Susanna Moon

Chicago, Aug. 21 – HSBC USA Inc. plans to price contingent income barrier notes due Aug. 28, 2020 linked to the LyondellBasell Industries NV stock, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of at least 9.5% if the stock closes at or above the 75% downside threshold on a determination date for that quarter.

The notes will be called at par if the stock closes at or above its initial level on any of the first 11 determination dates.

The payout at maturity will be par unless the stock finishes below the 75% 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 Aug. 25 and settle on Aug. 30.

The Cusip number is 40435G576.

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