By Jennifer Chiou
New York, July 23 – HSBC USA Inc. priced $1 million of 0% contingent buffered enhanced notes due July 25, 2016 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above the 85% knock-out level, the payout at maturity will be par plus the stock return, subject to a contingent minimum return of 5%.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Contingent buffered enhanced notes
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| Underlying stock: | General Electric Co. (Symbol: GE)
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| Amount: | $1 million
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| Maturity: | July 25, 2016
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 85% knock-out level, par plus the return, subject to a contingent minimum return of 5%; otherwise, full exposure to any losses
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| Initial price: | $26.46
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| Pricing date: | July 18
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| Settlement date: | July 23
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 40433BHE1
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