New Issue: HSBC prices $24.86 million capped Leveraged Index Return Notes on silver

By Jennifer Chiou

New York, Nov. 30 - HSBC USA Inc. priced $24,856,750 of 0% capped Leveraged Index Return Notes due Dec. 5, 2014 linked to the silver spot price, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any silver price gain, up to a maximum return of 21.05%.

Investors will receive par if the silver price falls by up to 10% and will be exposed to any losses beyond 10%.

Bank of America Merrill Lynch is the agent.

Issuer:	HSBC USA Inc.
Issue:	Capped Leveraged Index Return Notes
Underlying asset:	Silver
Amount:	$24,856,750
Maturity:	Dec. 5, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any silver price gain, capped at 21.05%; par if silver price falls by 10% or less; 1% loss per 1% drop beyond 10%
Initial level:	3,376
Threshold level:	3,038.40, 90% of initial level
Pricing date:	Nov. 29
Settlement date:	Dec. 6
Agent:	Bank of America Merrill Lynch
Fees:	2%
Cusip:	40433T711

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