By Marisa Wong
Morgantown, W.Va., Sept. 23 – HSBC USA Inc. priced $2.5 million of 0% Performance Leveraged Upside Securities due March 24, 2016 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return of 20%. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management will handle distribution.
| Issuer: | HSBC USA Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $2.5 million
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| Maturity: | March 24, 2016
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than initial share price, par plus 300% of fund return, subject to 20% maximum return; if final share price is less than the initial share price, investors have one-to-one exposure to decline
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| Initial share price: | $35.24
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1.75%
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| Cusip: | 40434K784
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