New Issue: HSBC prices $550,000 capped return enhanced notes tied to SPDR S&P Bank ETF

By Wendy Van Sickle

Columbus, Ohio, Aug. 30 – HSBC USA Inc. priced $550,000 of 0% return enhanced notes due Sept. 12, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus double the fund gain, subject to a maximum return of 18%.

Investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will act as placement agents.

Issuer:	HSBC USA Inc.
Issue:	Capped return enhanced notes
Underlying ETF:	SPDR S&P Bank ETF
Amount:	$550,000
Maturity:	Sept. 12, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2 times any fund gain, subject to a maximum return of 18%; investors will be fully exposed to any losses
Initial price:	$42.14
Pricing date:	Aug. 25
Settlement date:	Aug. 30
Agent:	HSBC Securities (USA) Inc.
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	40435FEM5

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