By Susanna Moon
Chicago, Nov. 1 – HSBC USA Inc. priced $360,000 of 0% averaging notes due Oct. 31, 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 115% of any fund gain.
If the fund falls, the payout will be par.
The index’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.
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| Issue: | Averaging notes
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| Underlying index: | PowerShares S&P 500 Low Volatility Portfolio ETF
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| Amount: | $360,000
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| Maturity: | Oct. 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 115% of any fund gain, floor of par; final index level will be average of closing levels on 28 quarterly observation dates
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| Initial level: | $40.32
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | 3.025%
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| Cusip: | 40433UVZ6
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