By Angela McDaniels
Tacoma, Wash., May 25 - HSBC USA Inc. priced $526,000 of 0% performance notes due Nov. 28, 2018 linked to the S&P 500 Low Volatility 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 the index return. If the index return is less than or equal to zero, the payout will be par.
The S&P 500 Low Volatility index is made up of the 100 least-volatile stocks over the previous year in the S&P 500 index. The volatilities of all S&P 500 constituents are calculated using daily standard deviation data for roughly the past year, and the weight for each index constituent is set inversely proportional to its volatility (higher weightings are assigned to the least volatile stocks). The index is rebalanced in February May, August and November of each year.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Performance notes
|
| Underlying index: | S&P 500 Low Volatility index
|
| Amount: | $526,000
|
| Maturity: | Nov. 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than zero, par plus index return; if index return is less than or equal to zero, par
|
| Initial index level: | 4,244.7
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 4.625%
|
| Cusip: | 4042K1K77
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
