New Issue: HSBC sells $30.38 million capped gears linked to S&P 500 index

By Wendy Van Sickle

Columbus, Ohio, April 27 – HSBC USA Inc. priced $30.38 million of 0% capped gears due May 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum return of 12.75%. If the index return is less than zero, investors will have full exposure to the decline.

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

Issuer:	HSBC USA Inc.
Issue:	Capped gears
Underlying index:	S&P 500
Amount:	$30,382,300
Maturity:	May 31, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any index gain, return capped at 12.75%; full exposure to any losses
Initial level:	2,639.40
Pricing date:	April 25
Settlement date:	April 30
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40435M532

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