HSBC to price autocallable barrier notes on S&P 500, SPDR Oil & Gas

By Wendy Van Sickle

Columbus, Ohio, June 8 – HSBC USA Inc. plans to price autocallable barrier notes with contingent return due June 24, 2020 linked to the S&P 500 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will called at par plus a call premium of 13% to 18% a year if each asset closes at or above its initial level on any annual observation date.

The payout at maturity will be par plus a contingent payment of 10% unless either asset closes below 60% of its initial value, in which case investors will be fully exposed to the loss of the worse performing asset.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40433UND4) will price on June 17 and settle on June 24.

© 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.