By Susanna Moon
Chicago, Aug. 30 - HSBC USA Inc. priced $3.58 million of 0% airbag performance securities due Aug. 31, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 138% of any fund gain.
Investors will receive par if the shares fall by up to 25% and will lose 1.3333% for every 1% drop beyond 25%.
HSBC Securities (USA) LLC is the underwriter. UBS Financial Services Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying fund: | PowerShares S&P 500 Low Volatility Portfolio ETF
|
| Amount: | $3,584,000
|
| Maturity: | Aug. 31, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 138% of any gain; par if shares fall by up to 25%; otherwise, 1.3333% loss for every 1% drop beyond 25%
|
| Initial share price: | $30.79
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 30
|
| Underwriter: | HSBC Securities (USA) LLC
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 40433X332
|
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