By Toni Weeks
San Diego, Nov. 1 - HSBC USA Inc. priced $1.38 million of 0% leveraged buffered uncapped market participation securities due Oct. 29, 2015 linked to the S&P 500 Low Volatility index, according to a 424B2 with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 120% of the index return.
Investors will receive par if the index falls by 15% and will lose 1% for every 1% decline beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying index: | S&P 500 Low Volatility
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Amount: | $1.38 million
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Maturity date: | Oct. 29, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.2 times any index gain; par if index falls by up to 15%; 1% loss for every 1% index decline beyond 15%
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Initial index level: | 4,497.33
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 4042K15L3
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