| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
HSBC to price one-year autocallable notes linked to S&P 500 index
By Jennifer Chiou
New York, Feb. 29 - HSBC USA Inc. plans to price 0% autocallable notes due March 20, 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The notes will be automatically called at par plus 11% per year if the index closes at or above the initial index level on a quarterly call date.
If the notes are not called and the final index level is at least 90% of the initial index level, the payout at maturity will be par. Investors will share in any losses beyond 10% at a rate of 1.1111% per 1% drop.
The notes (Cusip: 4042K1YH0) are expected to price on March 2 and settle on March 7.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.