By Susanna Moon
Chicago, Aug. 30 - HSBC USA Inc. priced $3.25 million of 0% 50/150 performance notes due Aug. 31, 2017 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes provide 1.5 times uncapped exposure to any gains and 0.5 times exposure to any losses.
The payout at maturity will be par plus 1.5 times any index gain.
If the index falls, investors will lose 0.5% for every 1% decline.
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.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | 50/150 performance notes
|
| Underlying index: | S&P 500 Low Volatility index
|
| Amount: | $3,254,000
|
| Maturity: | Aug. 31, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any index gain; if index falls, 0.5% loss per 1% decline
|
| Initial index level: | 4,476
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 3.5%
|
| Cusip: | 4042K12N2
|
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