By Jennifer Chiou
New York, Aug. 30 - HSBC USA Inc. priced $3,063,000 of 0% airbag performance securities due Aug. 31, 2017 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the trust's return is positive, the payout at maturity will be par plus 107% of the return.
If the trust's return is zero or negative and its final price is greater than or equal to the conversion price, the payout will be par. The conversion price is 50% of the initial price.
If the final price is less than the conversion price, the payout will be a number of trust shares equal to par divided by the conversion price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying fund: | SPDR S&P 500 ETF trust
|
| Amount: | $3,063,000
|
| Maturity: | Aug. 31, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return is positive, par plus 107% of the return; if return is zero or negative and final price is greater than or equal to the conversion price, par; if final price is less than conversion price, 14.1443 shares
|
| Initial share price: | $141.40
|
| Conversion price: | $70.70, 50% of initial share price
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
|
| Fees: | 3.5%
|
| Cusip: | 40433M286
|
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