New Issue: HSBC sells $1.45 million buffered uncapped notes on low volatility ETF

By Marisa Wong

Morgantown, W.Va., April 4 – HSBC USA Inc. priced $1.45 million of 0% buffered uncapped market participation securities due April 1, 2019 tied to the Powershares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus the fund return. Investors will receive par if the fund falls by up to 15% and lose 1% for every 1% decline beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying ETF:	Powershares S&P 500 Low Volatility Portfolio ETF
Amount:	$1,446,000
Maturity:	April 1, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus fund gain; par if fund falls by up to 15%; 1% loss for every 1% decline beyond 15%
Initial price:	$39.85
Pricing date:	March 28
Settlement date:	March 31
Underwriters:	HSBC Securities (USA) Inc.
Fees:	0.55%
Cusip:	40433UJA5

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