New Issue: HSBC prices $31.44 million step-up notes linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., March 2 – HSBC USA Inc. priced $31.44 million of 0% market-linked step-up notes due Feb. 27, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the step-up value, 119.5% of the initial level, the payout at maturity will be par of $10 plus the index return.

If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus 19.5%.

If the final index level is less than the initial level, investors will have one-to-one exposure to the decline.

BofA Merrill Lynch is the agent.

Issuer:	HSBC USA Inc.
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$31,444,908
Maturity:	Feb. 27, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 19.5%; if final index level is less than initial level, full exposure to decline
Initial index level:	3,574.94
Step-up value:	4,272.05, 119.5% of initial index level
Pricing date:	Feb. 26
Settlement date:	March 5
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	40434F454

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