New Issue: HSBC prices $510,000 return enhanced notes linked to dollar vs. euro

By Susanna Moon

Chicago, March 24 – HSBC USA Inc. priced $510,000 of 0% return enhanced notes due April 8, 2016 linked to the dollar relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 262% of any gain in the currency, up to a maximum return of 13.1%.

Investors will be exposed to any losses.

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

Issuer:	HSBC USA Inc.
Issue:	Return enhanced notes
Underlying currency:	Dollar relative to the euro
Amount:	$510,000
Maturity:	April 8, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 262% of any currency gain, capped at 13.1%; exposure to any losses
Initial level:	1.0795
Pricing date:	March 20
Settlement date:	March 25
Underwriter:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
Fees:	0.75%
Cusip:	40433BJ25

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