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 plans 7% 15-month yield autocallables tied to S&P 500, Russell
By Susanna Moon
Chicago, April 12 – HSBC USA Inc. plans to price 7% autocallable yield notes due Aug. 5, 2019 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly, with the exact rate to be set at pricing.
The notes will be called at par if each index closes at or above its initial level on any quarterly call observation date beginning Nov. 5, 2018.
The payout at maturity will be par unless either index ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 30 and settle on May 3.
The Cusip number is 40435FYE1.
© 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.