New Issue: HSBC prices $678,000 leveraged buffered notes on low volatility ETF

By Marisa Wong

Morgantown, W.Va., Nov. 2 – HSBC USA Inc. priced $678,000 of 0% leveraged buffered uncapped market participation securities due Oct. 31, 2019 linked 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 105% of the fund gain. Investors will receive par if the fund falls by up to 10% and lose 1% for every 1% decline in the fund beyond 10%.

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:	$678,000
Maturity:	Oct. 31, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 105% of the fund return; par if fund falls by up to 10%; 1% loss for every 1% decline in fund beyond 10%
Initial price:	$40.32
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Underwriter:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40433UWK8

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