New Issue: HSBC prices $2.12 million knock-out buffer notes linked to S&P 500

By Jennifer Chiou

New York, June 4 - HSBC USA Inc. priced $2.12 million of 0% knock-out buffer notes due June 7, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the 80% knock-out level, the payout at maturity will be par plus the greater of 112.5% of any index gain and the contingent minimum return of 0%.

Otherwise, the payout will be par plus the index return, with exposure to any losses.

HSBC Securities (USA) Inc. is the agent. J.P. Morgan Securities LLC is the dealer.

Issuer:	HSBC USA Inc.
Issue:	Knock-out buffer notes
Underlying index:	S&P 500
Amount:	$2.12 million
Maturity:	June 7, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes below knock-out level, par plus index return; otherwise, par plus 112.5% of any gain, floor of par
Initial index level:	1,923.57
Knock-out level:	80% of initial level
Pricing date:	May 30
Settlement date:	June 4
Agents:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as dealer
Fees:	2%
Cusip:	40433BBP2

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