New Issue: HSBC prices $5 million buffered return enhanced notes on S&P 500

By Marisa Wong

Morgantown, W.Va., Dec. 7 – HSBC USA Inc. priced $5 million of 0% buffered return enhanced notes due May 30, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, up to a maximum return of 21.21%. Investors will receive par if the index declines by 19% or less and will lose 1.2346% for every 1% that the index declines beyond 19%.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	HSBC USA Inc.
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500 index
Amount:	$5 million
Maturity:	May 30, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, up to a maximum return of 21.21%; par if the index declines by 19% or less; 1.2346% loss for every 1% that the index declines beyond 19%
Initial price:	2,089.14
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1.75%
Cusip:	40433UET9

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