By Jennifer Chiou
New York, Sept. 27 - HSBC USA Inc. priced $603,000 of buffered income plus notes due Sept. 28, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable annually. The interest rate for each interest period will be either the minimum interest rate of 3% or, if the index level on the coupon valuation date is equal to or greater than the initial level, 6%.
If the index return is greater than or equal to negative 20%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% the index declines beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered income plus notes
|
| Underlying index: | Russell 2000
|
| Amount: | $603,000
|
| Maturity: | Sept. 28, 2016
|
| Coupon: | 3% or, if the index level on the coupon valuation date is equal to or greater than the initial level, 6%; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par if index falls by up to 20%; investors share in losses beyond 20%
|
| Initial level: | 839.12
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3%
|
| Cusip: | 4042K14S9
|
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