By Susanna Moon
Chicago, Nov. 5 - HSBC USA Inc. priced $13.59 million of 0% performance barrier notes due Nov. 5, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 140% of any index gain.
Investors will receive par if the index falls by up to 30% and will be fully exposed to any losses if the index finishes below the 70% barrier level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Performance barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $13,587,000
|
| Maturity: | Nov. 5, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 140% of index gain; par if index declines by 30% or less; full exposure to any losses if index falls below barrier level
|
| Barrier level: | 70% of initial level
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2.75%
|
| Cusip: | 40432XNJ6
|
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