New Issue: HSBC sells $4.75 million digital notes due 2018 with barrier on S&P 500

By Susanna Moon

Chicago, July 22 – HSBC USA Inc. priced $4.75 million of 0% digital notes due April 6, 2018 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 87.5% threshold level, the payout at maturity will be par plus the threshold settlement amount of $1,112.00 for each $1,000 principal amount.

Otherwise, investors will lose 1.1429% for each 1% decline beyond 12.5%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$4,753,000
Maturity:	April 6, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If the index reaches 87.5% threshold, par plus 11.2%; otherwise, 1.1429% loss per 1% drop beyond 12.5%
Initial level:	2,173.02
Threshold level:	87.5% of the initial level
Pricing date:	July 20
Settlement date:	July 27
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40433URP3

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