New Issue: HSBC prices $16.98 million knock-out buffer notes tied to MSCI Europe

By Jennifer Chiou

New York, March 18 - HSBC USA Inc. priced $16,981,000 of 0% knock-out buffer notes due Sept. 21, 2015 linked to the MSCI Europe index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the 82.5% knock-out level, the payout at maturity will be par plus the greater of any index gain and the contingent minimum return of 0%.

Otherwise, the payout will be par plus the index return, with exposure to any losses.

HSBC Securities (USA) Inc. is the agent. J.P. Morgan Securities LLC is the dealer

Issuer:	HSBC USA Inc.
Issue:	Knock-out buffer notes
Underlying index:	MSCI Europe
Amount:	$16,981,000
Maturity:	Sept. 21, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes below knock-out level, par plus index return; otherwise, par plus any gain, floor of par
Initial index level:	109.65
Knock-out level:	82.5% of initial level
Pricing date:	March 14
Settlement date:	March 19
Agents:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as dealer
Fees:	1.25%
Cusip:	40432XW80

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