By Susanna Moon
Chicago, Oct. 23 - HSBC USA Inc. priced $349,000 of 0% knock-out buffer notes due Oct. 23, 2018 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 35%.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of 135% of any index gain and a contingent minimum return of par.
Otherwise, the payout will be par plus the index return, with exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Knock-out buffer notes
|
| Underlying index: | S&P 500
|
| Amount: | $349,000
|
| Maturity: | Oct. 23, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index falls by up to 35%, par plus 135% of any gain, floor of par; otherwise, par plus return with full exposure to any losses
|
| Knock-out event: | If index closes finishes below 65% trigger level
|
| Initial level: | 1,744.50
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 23
|
| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 3%
|
| Cusip: | 40432XMK4
|
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