HSBC plans 6.5%-7.5% autocallable yield notes linked to Schlumberger

By Susanna Moon

Chicago, Aug. 6 – HSBC USA Inc. plans to price 6.5% to 7.5% autocallable yield notes due Aug. 13, 2015 linked to the Schlumberger Ltd. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly, with the exact rate to be set at pricing.

The notes will be called at par if the stock closes at or above its initial level on any quarterly call date beginning Feb. 13, 2015.

A trigger event will occur if the shares close below the 80% trigger level on any day during the life of the notes.

The payout at maturity will be par unless a trigger event has occurred and the stock finishes below its initial level, in which case investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Aug. 8 and settle on Aug. 13.

The Cusip number is 40433BKY3.

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