New Issue: HSBC sells $4.44 million contingent buffered return enhanced notes on S&P

By Sarah Lizee

Olympia, Wash., May 13 – HSBC USA Inc. priced $4.44 million of 0% contingent buffered return enhanced notes due May 28, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its 90% of its initial level, the payout will be par plus 10.4%.

Otherwise, investors will lose 1.1111% for each 1% decline of the index beyond 10%.

HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC are placement agents.

Issuer:	HSBC USA Inc.
Issue:	Contingent buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$4,437,000
Maturity:	May 28, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above its 90% of its initial level, par plus 10.4%; otherwise, 1.1111% loss for each 1% decline of the index beyond 10%
Initial level:	2,930.32
Buffer level:	90% of initial level
Pricing date:	May 11
Settlement date:	May 14
Agent:	HSBC Securities (USA) Inc.
Placement agents:	JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	40438CFQ9

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