New Issue: HSBC prices $1.43 million knock-out buffer notes linked to S&P 500

By Susanna Moon

Chicago, Oct. 30 - HSBC USA Inc. priced $1.43 million of 0% knock-out buffer notes due Oct. 30, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the 65% knock-out level, the payout at maturity will be par plus the greater of 1.355 times any index gain and the contingent minimum return of 0%.

Otherwise, the payout will be par plus the index return, with exposure to any losses.

HSBC Securities (USA) Inc. is the agent. J.P. Morgan Securities LLC is the dealer

Issuer:	HSBC USA Inc.
Issue:	Knock-out buffer notes
Underlying index:	S&P 500
Amount:	$1,426,000
Maturity:	Oct. 30, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes below knock-out level, par plus index return; otherwise, par plus 135.5% of any gain, floor of par
Initial index level:	1,759.77
Knock-out level:	65% of initial level
Pricing date:	Oct. 25
Settlement date:	Oct. 30
Agents:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as dealer
Fees:	1%
Cusip:	40432XMQ1

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