By Angela McDaniels
Tacoma, Wash., Oct. 10 – HSBC USA Inc. priced $1.11 million of 0% twin participation notes due Oct. 16, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if the index’s final level is less than the trigger level, 74.75% of the initial level.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the lesser of the index return and 50%.
If the final index level is less than or equal to the initial index level and a trigger event has not occurred, the payout will be par plus the absolute value of the index return.
If a trigger event has occurred, investors will have one-to-one exposure to the index’s decline.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Twin participation notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1,113,000
|
| Maturity: | Oct. 16, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus lesser of index return and 50%; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; otherwise, one-to-one exposure to index’s decline
|
| Initial index level: | 1,097.123
|
| Trigger level: | 74.75% of initial level
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40433BRF7
|
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