HSBC plans to price autocallable barrier notes linked to two funds

By Sarah Lizee

Olympia, Wash., Oct. 29 – HSBC USA Inc. plans to price 0% autocallable barrier notes due May 7, 2020 linked to the Financial Select Sector SPDR fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to an FWP filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 20% a year if each underlying closes at or above its initial level on any quarterly observation date after six months.

The payout at maturity will be par unless either underlying falls by more than 35%, in which case investors will be fully exposed to the decline of the worse performer.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Nov. 2 and settle on Nov. 7.

The Cusip number is 40435UAD6.

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