By Jennifer Chiou
New York, March 27 - HSBC USA Inc. priced $2.91 million of 0% buffered performance plus securities due March 29, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus the greater of the index return and 35%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered performance plus securities
|
| Underlying index: | S&P 500
|
| Amount: | $2.91 million
|
| Maturity date: | March 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus greater of 35% and index return if index return is greater than or equal to zero; par if index falls by up to 10%; 1% loss for every 1% that index declines beyond 10%
|
| Initial index level: | 1,397.11
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.6%
|
| Cusip: | 4042K1YR8
|
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