By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – HSBC USA Inc. priced $843,000 of 0% averaging notes due Oct. 2, 2023 linked 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 110% of the fund return, subject to a minimum return of 0%.
The fund’s final level will be the average of its closing levels on 28 quarterly observation dates.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Averaging notes
|
| Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
|
| Amount: | $843,000
|
| Maturity: | Oct. 2, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 110% of fund return, subject to minimum return of 0%
|
| Initial price: | $41.85
|
| Final level: | Average of closing levels on 28 quarterly observation dates
|
| Pricing date: | Sept. 27
|
| Settlement date: | Sept. 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 3.025%
|
| Cusip: | 40433UTZ9
|
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