New Issue: HSBC sells $521,000 50/150 performance notes on PowerShares S&P 500 Low Volatility

By Marisa Wong

Madison, Wis., Sept. 27 - HSBC USA Inc. priced $521,000 of 0% 50/150 performance securities due Sept. 30, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above the initial level, the payout at maturity will be par plus 150% of any fund gain. Otherwise, investors will lose 0.5% for every 1% decline in the ETF share price.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	50/150 performance securities
Underlying ETF:	PowerShares S&P 500 Low Volatility Portfolio
Amount:	$521,000
Maturity:	Sept. 30, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If fund gains, par plus 150% of return; otherwise, 0.5% loss for every 1% decline
Initial price:	$31.47
Pricing date:	Sept. 25
Settlement date:	Sept. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	3.7%
Cusip:	40432XL66

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