By Wendy Van Sickle
Columbus, Ohio, July 11 – HSBC USA Inc. priced $6.88 million of 0% Strategic Accelerated Redemption Securities due July 21, 2017 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of 10.1% if the index closes at or above its initial level on any quarterly review date.
If the notes are not called, investors will be fully exposed to any loss in the index.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500
|
| Amount: | $6,879,240
|
| Maturity: | July 21, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Full exposure to any index loss
|
| Call: | At par plus 10.1% annualized if index closes at or above initial level on a quarterly review date
|
| Initial level: | 2,097.90
|
| Pricing date: | July 7
|
| Settlement date: | July 13
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06744K251
|
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