New Issue: HSBC prices $1 million knock-out buffer notes tied to Euro Stoxx 50

By Toni Weeks

San Luis Obispo, Calif., Jan. 30 – HSBC USA Inc. priced $1 million of knock-out buffer notes due Jan. 30, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If index falls by more than 25% on the Jan. 25, 2019 final valuation date, the payout at maturity will be par plus the index return, with full exposure to losses. Otherwise the payout will be par plus the greater of 1.45 times the index return and zero.

HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.

Issuer:	HSBC USA Inc.
Issue:	Knock-out buffer notes
Underlying index:	Euro Stoxx 50
Amount:	$1 million
Maturity date:	Jan. 30, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If index falls by more than 25% on Jan. 25, 2019, par plus the index return; otherwise, par plus greater of 1.45 times the index return and zero
Initial level:	3,372.58
Knock-out buffer:	25% of initial level
Pricing date:	Jan. 27
Settlement date:	Jan. 30
Underwriter:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as agent
Fees:	2.5%
Cusip:	40433BYJ1

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