By Marisa Wong
Madison, Wis., Sept. 27 - HSBC USA Inc. priced $2.37 million of 0% airbag performance securities due Sept. 28, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 137% of any fund gain.
Investors will receive par if the shares fall by up to 25% and will lose 1.3333% for every 1% drop beyond 25%.
HSBC Securities (USA) LLC is the underwriter. UBS Financial Services Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio
|
| Amount: | $2.37 million
|
| Maturity: | Sept. 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 137% of any fund gain; par if shares fall by up to 25%; 1.3333% loss for every 1% drop beyond 25%
|
| Initial price: | $31.47
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
|
| Fees: | 3.5%
|
| Cusip: | 40433X258
|
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