HSBC changes dates of averaging notes linked to S&P 500 Low Volatility

By Angela McDaniels

Tacoma, Wash., July 24 - HSBC USA Inc. changed the pricing, settlement and maturity dates of its upcoming 0% averaging notes linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.

The notes will price Aug. 27, settle Aug. 30 and mature Feb. 28, 2018. Before the change, they were expected to price July 26, settle July 31 and mature Jan. 31, 2018.

As previously reported, the payout at maturity will be par plus the index return if the index return is greater than zero. The payout will be par if the index return is less than or equal to zero.

The index's final level will be the average of its closing levels on the 22 quarterly observation dates.

HSBC Securities (USA) Inc. is the agent.

The Cusip number is 4042K1Z48.

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