New Issue: HSBC sells $3.07 million capped gears linked to iShares MSCI EM ETF

By Marisa Wong

Morgantown, W.Va., April 4 – HSBC USA Inc. priced $3.07 million of 0% capped gears due May 31, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 3 times the ETF return, subject to a maximum gain of 18.3%. If the ETF return is negative, investors will be exposed to the ETF’s decline.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Capped gears
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$3,070,670
Maturity:	May 31, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the ETF return is greater than zero, par plus 3 times the ETF return, subject to a maximum gain of 18.3%; if ETF return is negative, investors will be exposed to the ETF’s decline
Initial price:	$48.41
Pricing date:	March 26
Settlement date:	March 29
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40435M789

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