New Issue: HSBC prices $1.36 million notes linked to Italy, Spain SMID indexes

By Angela McDaniels

Tacoma, Wash., May 20 - HSBC USA Inc. priced $1.36 million of 0% notes due June 3, 2015 linked to an equally weighted basket of the MSCI Italy SMID Cap index and the MSCI Spain SMID Cap index, according to a 424B2 filing with the Securities and Exchange Commission.

For each $1,000 principal amount of notes, the payout at maturity will be (a) $1,000 multiplied by (b) one plus the basket return multiplied by (c) 99.35%. The notes are not principal protected, so that payout can be less than par.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.

Issuer:	HSBC USA Inc.
Issue:	Notes
Underlying indexes:	MSCI Italy SMID Cap index and MSCI Spain SMID Cap index, equally weighted
Amount:	$1,355,000
Maturity:	June 3, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	(a) $1,000 multiplied by (b) one plus basket return multiplied by (c) 99.35%
Initial index levels:	494.15 for Italy index and 579.27 for Spain index
Final index levels:	For each index, average of its closing levels on the five trading days ending May 29, 2015
Pricing date:	May 16
Settlement date:	May 21
Underwriter:	HSBC Securities (USA) Inc.
Agent:	J.P. Morgan Securities LLC
Fees:	0.75%
Cusip:	40433BBJ6

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