By Marisa Wong
Morgantown, W.Va., June 2 – HSBC USA Inc. priced $1.53 million of 0% leveraged buffered uncapped market participation securities due May 28, 2021 tied to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2 times any fund gain.
Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Leveraged buffered uncapped market participation securities
|
| Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
|
| Amount: | $1,527,000
|
| Maturity: | May 28, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.2 times any fund gain; par if fund falls by up to 15%; 1% loss for every 1% decline beyond 15%
|
| Initial price: | $40.28
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriters: | HSBC Securities (USA) Inc.
|
| Fees: | 3.75%
|
| Cusip: | 40433ULZ7
|
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