HSBC to price averaging notes linked to S&P 500 Low Volatility index

By Marisa Wong

Madison, Wis., March 4 - HSBC USA Inc. plans to price 0% averaging notes due March 28, 2019 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the index return, subject to a minimum payout of par. The index's final level will be the average of its closing levels on 24 quarterly observation dates.

HSBC Securities (USA) Inc. is the agent.

The notes will price March 25 and settle March 28.

The Cusip number is 40432XCD1.

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