By Marisa Wong
Madison, Wis., Dec. 22 – HSBC USA Inc. priced $975,000 of 0% buffered uncapped market participation securities due Dec. 26, 2017 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
If the ETF’s return is positive, the payout at maturity will be par plus the ETF return.
If the ETF’s return is less than zero but greater than or equal to negative 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Buffered uncapped market participation securities
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| Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
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| Amount: | $975,000
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| Maturity date: | Dec. 26, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any fund gain; par if fund falls by up to 10%; 1% loss for every 1% drop beyond 10%
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| Initial price: | $37.88
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| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Agent: | HSBC Securities (USA) Inc.
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| Fees: | None
|
| Cusip: | 40433BWA2
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