HSBC autocallable delivers monthly income – at a price

Schlumberger product puts capital at risk if American barrier is breached

HSBC headquarters in Canary Wharf

Autocallable income products pay a fixed coupon each month throughout their life until the autocall feature is triggered. Principal is at risk if the product runs to maturity without an autocall event, in which case the repayment will be linked to the performance of the underlying stock.

This one-year product from HSBC offers a monthly income payment at an annualised rate of 7%, regardless of the performance of the underlying asset, Schlumberger stock. The first autocall opportunity occurs after

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