New Issue: HSBC sells $2.73 million capped trigger step notes tied to Russell 2000

By Susanna Moon

Chicago, July 29 – HSBC USA Inc. priced $2.73 million of 0% trigger step securities due July 31, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the 80% step barrier, the payout at maturity will be par of $10 plus the greater of the 8% step return and any index gain up to a maximum return of 23%.

If the index falls below the downside threshold, investors will be fully exposed to any losses.

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

Issuer:	HSBC USA Inc.
Issue:	Trigger step securities
Underlying index:	Russell 2000
Amount:	$2,731,100
Maturity:	July 31, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes at or above the 80% step barrier, par plus greater of 8% and any index gain capped at 23%; otherwise, full exposure to any losses
Initial level:	1,216.859
Step barrier:	973.487, 80% of initial level
Pricing date:	July 26
Settlement date:	July 29
Agents:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2%
Cusip:	40434V483

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