New Issue: HSBC sells $8.7 million 14-month capped gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., July 6 – HSBC USA Inc. priced $8.7 million of 0% capped gears due Aug. 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum return of 10.75%. If the index return is less than zero, investors will have full exposure to the decline.

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

Issuer:	HSBC USA Inc.
Issue:	Capped gears
Underlying index:	S&P 500
Amount:	$8,695,190
Maturity:	Aug. 31, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any index gain, return capped at 10.75%; full exposure to any losses
Initial level:	2,419.38
Pricing date:	June 27
Settlement date:	June 30
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40435D342

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