By Marisa Wong
Morgantown, W.Va., Sept. 6 – HSBC USA Inc. priced $6.31 million of 0% digital notes due Aug. 24, 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 85% of the initial level, the payout at maturity will be the threshold settlement amount of $1,099 per $1,000 principal amount.
If the index falls by more than 15%, investors will lose 1.1765% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Digital notes
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| Underlying index: | S&P 500
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| Amount: | $6.31 million
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| Maturity: | Aug. 24, 2018
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index return is at least negative 15%, par plus 9.9%; otherwise, 1.1765% loss per 1% drop beyond 15%
|
| Initial level: | 2,170.95
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 8
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 40433UTR7
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