By Toni Weeks
San Luis Obispo, Calif., Jan. 30 - HSBC USA Inc. priced $1.19 million of 0% airbag performance securities due April 30, 2018 linked to the S&P Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 149% of the return.
If the index level stays flat or falls by up to 25%, the payout will be par.
If the index return is less than negative 25%, investors will lose 1.33333% for every 1% decline beyond the 25% threshold percentage.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying index: | S&P Low Volatility
|
| Amount: | $1,189,000
|
| Maturity: | April 30, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return is positive, par plus 149% of gain; if return is zero or negative but at least negative 25%, par; if return is less than negative 25%, 1.33333% loss for every 1% decline beyond 25%
|
| Initial level: | 4,644.27
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
|
| Fees: | 3.5%
|
| Cusip: | 40433T380
|
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