New Issue: HSBC prices $1.06 million three-year return enhanced notes on S&P 500

By Sarah Lizee

Olympia, Wash., May 31 – HSBC USA Inc. priced $1.06 million of 0% return enhanced notes due June 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 133.25% times the index gain. Investors will be fully exposed to any index decline.

J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.

Issuer:	HSBC USA Inc.
Issue:	Return enhanced notes
Underlying index:	S&P 500
Amount:	$1.06 million
Maturity:	June 1, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 133.25% times gain; if index return is negative, one-to-one exposure to decline
Initial index level:	2,721.33
Pricing date:	May 25
Settlement date:	May 31
Placement agents:	J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
Fees:	2%
Cusip:	40435FF77

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