New Issue: HSBC prices $11.24 million Accelerated Return Notes linked to S&P 500

By Toni Weeks

San Luis Obispo, Calif., April 27 – HSBC USA Inc. priced $11.24 million of 0% Accelerated Return Notes due April 28, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 300% of the index return, subject to a cap of 16.6%. If the final index level is less than the initial index level, investors will be fully exposed to the decline.

BofA Merrill Lynch is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Return Notes
Underlying index:	S&P 500 index
Amount:	$11,241,980
Maturity:	April 28, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, up to 16.6% maximum return; exposure to any index decline
Initial index level:	Lowest closing index level on any trading day between pricing date to May 26, inclusive
Final index level:	Average of index’s closing levels on five trading days ending April 25, 2017
Pricing date:	April 23
Settlement date:	April 30
Underwriter:	BofA Merrill Lynch
Fees:	2%
Cusip:	40434G684

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