By Angela McDaniels
Tacoma, Wash., March 2 – HSBC USA Inc. priced $16.4 million of 0% Accelerated Return Notes due Feb. 24, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level will be the index’s lowest closing level during the one-month period beginning on the pricing date.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 300% of the index return, subject to a cap of 16.6%. If the final index level is less than the initial index level, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | S&P 500
|
| Amount: | $16,404,760
|
| Maturity: | Feb. 24, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any index gain, up to 16.6% maximum return; exposure to any index decline
|
| Initial index level: | Index’s lowest closing level during period beginning oFeb. 26 and ending March 26
|
| Final index level: Average of index’s closing levels on five trading days ending Feb. 21, 2017
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 5
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40434F462
|
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