By Toni Weeks
San Luis Obispo, Calif., July 19 - HSBC USA Inc. priced $2.75 million of 0% averaging notes due July 23, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 95% of any index gain.
If the index falls, investors will receive par.
The index's final level will be the average of its closing levels on the 10 semiannual observation dates.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Averaging notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.75 million
|
| Maturity: | July 23, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 95% of any index gain, floor of par
|
| Initial index level: | 1,689.37
|
| Final index level: | Average of index's closing levels on 10 semiannual observation dates
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40432XHX2
|
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