Product wrap: HSBC offers full capital protection, short tenor in US

EUROPE Equitim launched Oustal V , a 10-year autocall on the iStoxx Europe 600 Automobiles & Parts GR Decrement 50 Index in France. Every quarter, if the index closes at or above 70% of its starting level, the product pays a memory coupon of 1.90%. The product is subject to quarterly early redemption – from the end of the first year onwards – if the index closes at or above the step-down autocall barrier, which starts at 100% and subsequently decreases by four percent per quarte