New Issue: HSBC sells $4.94 million trigger return optimization notes on S&P 500

By Tali Rackner

Norfolk, Va., March 31 – HSBC USA Inc. priced $4.94 million of 0% trigger return optimization securities due March 29, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par of $10 plus double the gain, up to a maximum return of 35.5%.

If the index falls by up to the 75% trigger level, the payout will be par.

Otherwise, investors will be exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.

Issuer:	HSBC USA Inc.
Issue:	Trigger return optimization securities
Underlying index:	S&P 500
Amount:	$4,942,000
Maturity:	March 29, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus two times any index gain, capped at 35.5%; par if index falls by up to 25%; full exposure to any losses if index finishes below trigger level
Initial index level:	2,037.05
Trigger level:	1,527.79, 75% of initial level
Pricing date:	March 28
Settlement date:	March 31
Underwriters:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40434N598

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