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HSBC plans 5.25% autocallable yield notes linked to S&P 500, Russell
By Susanna Moon
Chicago, Aug. 4 – HSBC USA Inc. plans to price 5.25% autocallable yield notes due Dec. 1, 2016 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning Jan. 27, 2016.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below its trigger level, 80% of its initial level, on any day during the life of the notes, in which case investors will be fully exposed to any losses of the worst performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 40433B4Q8.
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