By Jennifer Chiou
New York, Sept. 26 - HSBC USA Inc. priced $5 million of Leveraged Index Return Notes due Oct. 3, 2017 linked to the spot price of silver, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 120% of any gain in the price of silver.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Leveraged Index Return Notes
|
| Underlying commodity: | Silver spot price
|
| Amount: | $5 million
|
| Maturity: | Oct. 3, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 120% of any gain in silver price; full exposure to losses
|
| Initial price: | $3,373
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 1
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 40433M153
|
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